An LLC is a partnership unless they elect otherwise but you are right, it's either a 1065, an 1120 or 1120S or a schedule C.
Debbie Wilson
From: taxchat@yahoogroups.com [mailto:taxchat@yahoogroups.com] On Behalf Of Cris Kelly
Sent: Monday, November 17, 2008 12:40 PM
I need to verify that I am wrong or right –
When someone forms a LLC don't they HAVE TO file as either a corp, partnership or sole prop. is there a way to file as a LLC? I always thought you had to file as one of the above entity types and there wasn't a form for filing as a LLC.
I have a new client that we are only doing the books for and their tax prep person is saying different (or at least that is way the client is telling me).
Please advice if I am right or if I am wrong and a company can file as a LLC.
Thanks for the help.
Cris
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17 November 2008
Re: [taxchat] LLCs
And probably the client just did not understand that the professional was telling him that the LLC needs to file a return, period. That is either a 1065, an 1120, or an 1120S. How often has a client heard only 75% or less of one of your explanations?
KC Jenkins
On Mon, Nov 17, 2008 at 1:33 PM, Debbie Wilson <preferrd@t6wireless.com> wrote:
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