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emc011075, Tax adviser
Category: Tax
Satisfied Customers: 3003
Experience:  IRS licensed Enrolled Agent and tax instructor
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I run a business in the United States, an LLC out of

Customer Question

Hello,I run a business in the United States, an LLC out of Delaware. My current accountant has filed an extension. However, I am currently in escrow to buy a home, and they said they need my tax return by Monday. Is there any way to do this myself, fast and efficiently so I have something to show them on Monday?
Submitted: 1 year ago.
Category: Tax
Expert:  emc011075 replied 1 year ago.

Hi. My name is ***** ***** I will be happy to help you.

If it is a single member LLC and as long as you have all paperwork, you can use any tax preparation software. You can also pay somebody at any tax preparation office, you will just need to find out which one is opened at this time of year. It may not be accepted by IRS by Monday.

Customer: replied 1 year ago.
Well, most importantly, I need a draft to show them that the business makes income and what not. Can I just funnel the income to my personal tax return?
Expert:  emc011075 replied 1 year ago.

What type of entity is it? Single member LLC or corporation?

Customer: replied 1 year ago.
Expert:  emc011075 replied 1 year ago.

Ok if it is single member LLC there's no separate business return. You will report the income and expenses on schedule C and the profit will reported on your 1040. Your accountant should have the income and expenses information. You may need prior year return if you claimed any depreciation or carryovers but business version or Turbo tax can handle it.

Expert:  emc011075 replied 1 year ago.

Any questions?

Expert:  emc011075 replied 1 year ago.

I see you offline now. So if this answered your question, please take a moment to rate my response so that I may receive credit for assisting you today. You find the rating bar on the top of the page – 5 stars. However, if you need clarification, or want to discuss this issue further, let me know. Thank you.