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Name as Shown on Your Form IL 1065 Tax Illinois

Name as Shown on Your Form IL 1065 Tax Illinois

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okay in this video i wanted to talk about tax reporting for single member llcs and one of the big questions i always get is can my single member llc file a partnership tax return and i can get a k1 and a lot of times owners want to do that because they want a separate business tax return for their company um if they're going to apply for a loan or they have to provide it for some type of financing purposes and so here we're going to address whether or not you can actually do that well some of the basics to start with at the top if you form an llc that has only one owner the question is what type of tax return do you file and so what we need to do is follow the default tax rules for for llcs and this includes single member llc's and multi-member llc's so a single member llc that has only one owner is a disregarded entity or dre for federal tax purposes now a dre generally doesn't file its own tax return because it's disregarded meaning it&

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