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coast of Maine | The LLc needs to determine how it is seen by the IRS.This form needs to go in within a certain amount of time of being an LLC.The LLC will need to file for an EIN. To get this # is easy.This # will go on the the tax forms the LLC has chosen to identify itself with the IRS.So if they chose to file as an S-corp LLc the members will have a K-1 filed on them/ and to them as it is part of the s-corp form 1120-s.The members should have a bank account which all $$ flow in and out of,,the preparer should have the data from summaries from this account.Basically what went where.The K-1 data flows to the members individual returns due to filing as an S-corp.A K-1 lists all of the deductions /incomes that the member is entitled.Even listing % of 179,depreciation and the % of stock owned by the K-1 holder. | |
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little tax income info needed
