Not real familiar with LLC. My question is client has a schedule C and was wondering if the LLC has a number and is it placed on the schedule C when filing the return, and where?
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Disregarded Entity
The only official identifying number would be your client's EIN. Nothing extra for the LLC. An LLC is a disregarded entity as far as the IRS is concerned. SMLLC same as Sole Prop. to the IRS. -
The LLC CAN have an EIN of it's own, but otherwise it's usually like any other Sole Proprietorship and can use the Social Security number of the taxpayer or an EIN in the name of the taxpayer. Nothing else is different.
The exception is if the LLC an employees. Then it NEEDS to have an EIN belonging specifically to the LLC.
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Affordable Care -Reporting Responsibilities for Full Health Insurance Coverage
When someone has full coverage for health insurance all year, are there any requirement/entries to be made on the 1040?Comment
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