Welcome Guest. Register Now!  



Reply
 
LinkBack Thread Tools Search this Thread Display Modes
  #1 (permalink)  
Old 03-07-2014, 01:34 PM
Junior Member
 
Join Date: Mar 2014
Posts: 1
Need help with quick 1099 filing question for LLC

Hi,
I have a Single Member (disregarded entity) LLC in CA.
I'm filling out 1099's to give to my non-employees. I know that I can use my SSN rather than an EIN (which I don't have).
My question is this: should I use my personal name as the Payer? Or my LLC?
Thank you



Digg this Post!Add Post to del.icio.usBookmark Post in TechnoratiFurl this Post!Reddit! stumble!bookmark in google!Share on Facebook!
Reply With Quote
  #2 (permalink)  
Old 03-07-2014, 10:53 PM
Moderator
 
Join Date: Oct 2010
Posts: 5,233
Quote:
Originally Posted by mlondon View Post
Hi,
I have a Single Member (disregarded entity) LLC in CA.
#1;I'm filling out 1099's to give to my non-employees. I know that I can use my SSN rather than an EIN (which I don't have).


#2;My question is this: should I use my personal name as the Payer? Or my LLC?
Thank you
#1;in general, you need an EIN for biz account for your biz. some banking institutions or states will require that all LLCs possess an EIN even through the IRS does not demand one ;your SM LLC has no employees so, you may be able to use your personal SSN as your LLC’s unique identification number for the purpose of filing taxes, applying for bank loans, or conducting business with other companies.


#2; I guess either one of them, b ut you ‘d better use your SMLLC ID.as SMLLC who did not elect to be taxed any other way, you will include your taxable income on 1040 sch C/SE Consequently all taxes due will be under your ssn#, so the 1040es payments need to be under the ssn#



Digg this Post!Add Post to del.icio.usBookmark Post in TechnoratiFurl this Post!Reddit! stumble!bookmark in google!Share on Facebook!
Reply With Quote
Ads
Reply


Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

vB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
Quick Help Please Sundevil1987 For 2013 1 01-28-2014 07:00 AM
Filing Status Question lrobinson For 2013 1 01-15-2014 12:57 AM
Question About Filing Singe Or Married bulls2030 Filing Requirements 1 04-02-2011 04:09 AM
A quick question to CPA's, how many are offering credit card payment options to their clients? TaxWizard CPA Forums 0 01-29-2010 10:16 PM
Quick and Easy Access to IRS Forms and Publications Samatg General 0 01-23-2007 07:54 PM

Follow us on Facebook Follow us on Twitter Google Buzz Rss Feeds

» Categories
 
Individual
 » Income
 » IRA/Sep
 » Medical
 
Corporations
 » Payroll
 
Forum for CPAs
 
Financial Planning