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 |