Welcome Guest. Register Now!  



 
 
LinkBack Thread Tools Search this Thread Display Modes
Prev Previous Post   Next Post Next
  #1 (permalink)  
Old 12-05-2014, 04:53 PM
Junior Member
 
Join Date: Dec 2014
Posts: 2
sole member & drawing

I made LLC in 2014 and I am a sole member.
My LLC has loss so far, but I have drew some money like salary.
I have worked alone for my company, and I don't have any employees.
So far, I recorded this amount as drawings.

How I treat this money in 2014 tax return ?
Do I have to issue 1099 for myself? or
Should not I withdraw money because my company has loss?



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
 



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
1099 for Spouse under Sole Member LLC? mach1axman Sole-Proprietorship 1 12-05-2012 09:15 PM
Can a taxpayer who registered as a 1 member LLC file a 2 member LLC if he has found a partner during the year? JimBestTaxman CPA Forums 0 04-10-2011 01:59 PM
Single member llc to two member llc smllc Limited Liability Company 0 01-16-2010 11:49 PM
What Deductions does the IRS allow for Single Member LLCs or Sole Proprietors? TaxGuru Sole-Proprietorship 1 08-26-2009 07:47 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
 
 
 

» Recent Tax Q&A
No Threads to Display.