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Hello and thanks for using JustAnswer.com. How are you today?
I just wanted some clarification on your question. Are you trying to get instructions on how to file your federal return?
a bit stressed but otherwise well
No reason to be stressed
Looking for feedback on how to file my mn tax liability.
Your state return?
But I am wondering if I should have listed things differently on my federal.
If you're an LLC you are by default a disregarded entity or a corporation if you elect to be taxed as a corporation
Say more...can you describe disregarded entity?
If you are in business with just yourself you would file schedule C
if you had a partnership with more than one other person then you would file a partnership tax return
I am in business with just myself. I used Turbo tax for my husband and my federal tax return. I am looking for a schedule C... or is this a separate form...?
It's form 1040 Schedule C ...
I have a schedule C...and nothing is listed on this form...
So what is your question about your state return?
I have schedule C-EZ... this lists my business info: type/ name/ address/ Gross receipts, total expenses, net profit, vehicle info, ... The only other form I have related to tax my tax liability is Schedule 1040 SE
I thought I read online that I have to prepare a Corp Franchise Tax Return.
If you are a business, yes...
I am an independent contractor/ Therapist. I filed for an LLC at the onset of this contractor position I took
Yes, but if you are a business (LLC) then you file the franchise tax return
you are a single member LLC
This is what Minnesota says about your filing requirement:
yes, single member LLc
depending on the characteristics of the LLC
Sorry about the formatting, I copied and pasted that from this link:
So, in your case the M4 is not required.
In my opinion, you are wonderful!!!! I was certainly reading into everything and have spent much time worrying. so my schedule C-EZ covers me? just to be sure.
Yes, but you will still file your normal state income tax return
but no M4 - that's for a corporation
I gave you the link
There are many LLCs that elect to be treated as a corporation, which is where your confusion comes from.
that is all I need for tonight.
I did a turbo tax state return.. how do I know I am covered in paying my business taxes?
Is there a form I should look for?
oh wait, I think I have it.
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