<rakhi1178[at]yahoo.com> wrote:

- quote -

A single member LLC is not a tax matter.

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"rakhi1178[at]yahoo.com" <rakhi1178[at]yahoo.com> wrote:

- quote -

This is an economic, not a tax decision; though annual
filing fees to keep it open should be an allowable deduction
as long as you are actively looking for moonlighting jobs.

--
Tom Healy, CPA
Boulder, CO
Web: http://www.tomhealycpa.com

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I opened an LLC in 2004 as a single proprieter - reporting
1099-MISC income and expenses on my own return Schedule C. I
did some consulting work in 2004. As I got a full-time job
now, I do not foresee doing contract work any more, although
you never know, I might do something on the side. Should I
close the LLC or keep it going? If I keep it open, I have to
file annual report for $50. If I close it, and then have to
re-open for some reason, I have to pay about $350 as
start-up costs (filing, etc). Not sure what I should do.

Also, if I have no LLC income, I can not deduct any LLC
expense, right? For example, I might have some expenses
trying to market myself for a consulting assignment on the
side, would that qualify as deductible expense, even if I do
not have an income? Any ideas will be appreciated.

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