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Anyone here have an LLC and pay quarterly taxes?
I formed an LLC a few months ago and Im now writing a check for my quarterly taxes.
In the past I just put my name and social security # on the check. But now do I write my name and EIN number on the check and send it in? Or do I continue with my personal name and SSN? thanks |
Personal SS#. The quarterly taxes are for yourself, not your business. An LLC passes everything on to your personal taxes.
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https://www.pay1040.com/
Been using this site for the year so far, and it works out great. A few clicks and your done, and no paperwork to deal with. |
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I have an LLC and send quarterly.
The business name is on the check that gets sent. |
I file my quarterly via telefile. So I have no idea. It was for a business I never did anything with due to a falling out I had with a partner. I kept the name and file zero every quarter, so no need for checks. I may decide to give it a go again sometime down the line.
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No such thing in Canada, I think. We have other types of corporations.
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So 2 different opinions on this. Ill call the irs tomorrow and ask them |
FWWIW, I don't use an LCC. I use an S-corp and though the taxes pass through, I am an employee and the company has the obligation to pay my personal taxes just as any company would. The advantage of an S-corp is you/the company only has to pay SS/Medicare tax on the portion my company pays me as salary, NOT the full amount the company earns.:thumbsup
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A few clicks? I have mine scheduled to automatically pay through the government's website. https://www.eftps.gov/eftps/ |
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But yeah I would call and see exactly what you should do, taxes arent a guessing matter. Good Luck. :) |
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