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Old 01-10-2011, 01:38 PM
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Join Date: Jan 2011
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Question Partner-owned LLC & personal taxes

I co-own a LLC graphics & web design firm and we've set aside 15%/person from our business' income for 2010 for taxes. We have records of all invoices paid to & from us.

My questions:

- Do we subtract our business-paid expenses before we take out for our individual taxes?
- Knowing we get taxed individually, can I still make freelance-type deductions (home office, utilities, phone, etc.)
- Are there any other special limitations, benefits or information we need to take into consideration before filing?

Thanks,
Josh
ArdentPixels.com



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