Financial Center Forum - View Single Post - Structure of Business- Sole proprietor

Batman · 04:02 PM

A sole proprietor is someone who owns an unincorporated business by himself or herself. However, if you are the sole member of a domestic limited liability company (LLC), you are not a sole proprietor if you elect to treat the LLC as a corporation.

If you are a sole proprietor use the information in the chart below to help you determine some of the forms that you may be required to file.

IF you are liable for: THEN use Form:
Income Tax 1040 and Schedule C or C-EZ
Self-employment tax Schedule SE
Estimated tax 1040-ES
Social security and Medicare taxes and income tax withholding 941 or 944
8109 (to make deposits)

Providing information on social security and Medicare taxes and income tax withholding W-2to employee
W-2 and W-3 (to the Social Security Administration)

Federal unemployment (FUTA) tax 940
8109 (to make deposits)

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Batman Senior Member Status: Offline Posts: 190 Blog Entries: 1 Join Date: Apr 2008	Structure of Business- Sole proprietor - 04-22-2008 A sole proprietor is someone who owns an unincorporated business by himself or herself. However, if you are the sole member of a domestic limited liability company (LLC), you are not a sole proprietor if you elect to treat the LLC as a corporation. If you are a sole proprietor use the information in the chart below to help you determine some of the forms that you may be required to file. IF you are liable for: THEN use Form: Income Tax 1040 and Schedule C or C-EZ Self-employment tax Schedule SE Estimated tax 1040-ES Social security and Medicare taxes and income tax withholding 941 or 944 8109 (to make deposits) Providing information on social security and Medicare taxes and income tax withholding W-2to employee W-2 and W-3 (to the Social Security Administration) Federal unemployment (FUTA) tax 940 8109 (to make deposits) Last edited by Batman; 04-22-2008 at 04:02 PM.