Five LLC Tax Filing Requirements | How Does an LLC File Taxes?

An LLC is a legal business structure that has the capability to file its LLC taxes in several ways because you can choose your LLC tax filing requirement depending on your specific business needs and goals. In this video we show you how does an LLC file taxes and how each LLC tax option affects the LLC owner's tax return.
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DISCLAIMER
This video is intended for education purposes and should not be taken as legal or tax advice. You should consult with your financial professionals about your unique financial situation before acting on anything discussed in these videos. Freedomtax Accounting and Multiservices Inc. is providing educational content to help small business owners become more aware of certain issues and topics, but we cannot give blanket advice to a broad audience. Freedomtax Accounting and Multiservices Inc. or its members cannot be held liable for any use or misuse of this content.
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[@SheryMalik936]

Outstanding

[@ella_cook]

Thank you for this breakdown. Exactly the visual I needed

[@KarimJdabbas]

Thanks for the info, i have a question if you may, I’m a foreigner, not living in the states, i formed an LLC last month, in March/2022. Do i need to file for the tax this April?

[@luneselearning3115]

Does courses/youtube revenue fall under passive income for Schedule e?

[@Bantuqueen01]

@ FreedomTax Accounting Do you file the 1040 personal tax with the 1120 ?

[@evazion6375]

which way do I file if I was a single member LLC and had 3 w2 employees under my business?

[@Jaidzeka36]

Do you have any advice for filing write-offs for LLC?

[@stephaniesmith944]

I'd be interested in this as well

[@soggybottomboys2792]

So the business itself doesn’t file with the irs the owner has it on their tax return?

[@ella_cook]

No I believe the way it works is the company fills out and submits form 1129 S first and then you get the K1 form to file your personal taxes.

[@ella_cook]

If you haven't found the answer yet. Look up how to fill out the 1120 s it makes more sense when you combine ( this explanation and how to fill out 1120 line by line)