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#1
02-15-2006, 02:37 AM
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 Re: 2 businesses in 1 year, now to file wearearewe <wearearewe[at]yahoo.com> wrote: - quote - > With regards to 2005 federal taxes how do I account for
Yes.> operating two business in one tax year? > Specifically, do I file 2 Schedule-C's? Seth << ================================================== ===== > << The foregoing is intended for educational purposes only > << and does NOT constitute legal OR professional advice. > << > << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org. > << Copyright (2006) - All rights reserved. > << ================================================== ===== > |
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02-15-2006, 01:39 AM
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| Re: 2 businesses in 1 year, now to file "wearearewe" <wearearewe[at]yahoo.com> wrote: - quote - > With regards to 2005 federal taxes how do I account for
if they're both single-member LLC's, file 2 Sch C's. If> operating two business in one tax year? Business-1 was a > carry over from 2004 and ended in October 2005, Business-2 > began operating in June 2005 overlapping Business-1 for the > months June - October. > Specifically, do I file 2 Schedule-C's? > Do I combine them into a single entity? > They are both LLC's more than 1 member, then it's a partnership return unless you elected otherwise and your K-1 info goes through Sch E on your 1040. << ================================================== ===== > << The foregoing is intended for educational purposes only > << and does NOT constitute legal OR professional advice. > << > << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org. > << Copyright (2006) - All rights reserved. > << ================================================== ===== > |
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#-1
02-14-2006, 05:25 AM
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| 2 businesses in 1 year, now to file With regards to 2005 federal taxes how do I account for operating two business in one tax year? Business-1 was a carry over from 2004 and ended in October 2005, Business-2 began operating in June 2005 overlapping Business-1 for the months June - October. Specifically, do I file 2 Schedule-C's? Do I combine them into a single entity? They are both LLC's Thanks for any advice you can provide. Jeff << ================================================== ===== > << The foregoing is intended for educational purposes only > << and does NOT constitute legal OR professional advice. > << > << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org. > << Copyright (2006) - All rights reserved. > << ================================================== ===== > |
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| businesses, file, year |
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