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Robert M.
Robert M., Consultant
Category: Financial Software
Satisfied Customers: 3063
Experience:  30 yrs. of computer experience in financial and marketing departments.
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I started an LLC last year (TV Production Company) but, due

Customer Question

I started an LLC last year (TV Production Company) but, due to family illness and eventual death, everything got put on hold.
So I had lots of expenses, now almost broke and no business income.
I never had my own company (just me) and now it's time to file taxes.
I have done personal taxes before (by form and now by e-file with tax software) but I have never done a business tax before.
So... Is there an relatively easy tax software program to do this, or is it going to be a nightmare where-in I need a professional?
Do really want to spend $300.00 or more to have someone do the taxes unless I have no choice.
Submitted: 1 year ago.
Category: Financial Software
Expert:  DanielleCPA replied 1 year ago.

Hello and thanks for your question! I'm a CPA and glad to help with your question!

Expert:  DanielleCPA replied 1 year ago.

Are you the only owner of the LLC?

Customer: replied 1 year ago.
Expert:  DanielleCPA replied 1 year ago.

For single member LLCs, the default tax treatment follows that of the owner, unless you elect otherwise. So unless you made an election for the LLC to be taxed as another entity type, the LLC's income and expenses will be reported on your own personal tax return.

Expert:  DanielleCPA replied 1 year ago.

You will need to complete a schedule C to report your income, expenses, etc. Most tax softwares (Turbotax, HR Block software, etc) have the ability for you to complete a Schedule C (you may need to pay for a deluxe or more upgraded version vs. the basic version), but you will definitely be able to report in the software.