Discussion:Single Member LLC/Self Employment Tax
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Discussion Forum Index --> Tax Questions --> Single Member LLC/Self Employment Tax
DARYLGEYER (talk|edits) said: | 2 April 2007 |
| I have a Single Member LLC Schedule C filer who is active in the business and is taking the position that none or a portion of his Schedule C income is subject to SE tax because of the IRS confusion if SE tax applies to LLC members.
Can you file a Schedule C without a Schedule SE? What if you only want to SE tax a portion of Schedule C? Any guidance or references would be appreciated. | |
| 2 April 2007 | |
| They should check the box and elect to be taxed as a corp or S corp if they don't like the tax situation they've chosen. | |
| 2 April 2007 | |
Client gets an  ...disregarded SMLLC is subject to same rules as a sole proprietor...
| |
| 2 April 2007 | |
| You can file a sched with no se only if the income low enough. | |
| 2 April 2007 | |
| Anyone here think a passive Sch C would NOT be subject to SE tax? | |
| 2 April 2007 | |
| Sure there is, you hire someone else to manage the business. Like the old video rental stores in the 80s. | |
Victor1530 (talk|edits) said: | 2 April 2007 |
| What about a MTM Day trader? | |
| 2 April 2007 | |
| that wouldn't be passive, the whole point of that is to have a sch c loss | |
Rgtaxservice (talk|edits) said: | 2 April 2007 |
| No IRS confusion. SMLLCs get reported as disregarded entities on Sch C. Subject to SE.
Everyone whats money until they have to get taxed on it. Then everyone wants to be poor. | |
Jastaxes47 (talk|edits) said: | 3 April 2007 |
| amen to rgtaxservice | |
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