All above answers are wrong! No need for Biz tax form

It used to be as they described - you need file biz tax and generate 2 K1s then pass on to your individual tax returns. However, since 2006, IRS had a new rule that favors small biz such as hu*****and and wife LLC.

Now you can continue use your personal tax return, but you need to create two separate schedule Cs - one for you and one for your spouse. You split both rev and expense depending on your predetermined LLC shares.

In this way, you can avoid extra biz tax return (accountants love that!).

所有跟帖： 

• 你说的husband and wife LLC是有可能是这样 -黄则和- ♂ (93 bytes) () 04/01/2009 postreply 19:29:09

• 对了， 刚想起， LLC做过K1后， 你说的就不行了。 -黄则和- ♂ (0 bytes) () 04/01/2009 postreply 19:35:59

• link inside -不开窍- ♂ (93 bytes) () 04/02/2009 postreply 08:21:28

• Not wise to have 2 Sched Cs, due to self employement tax -gchai- ♀ (360 bytes) () 04/02/2009 postreply 08:21:35

• With Sched Cs, you will have a higher chance to be audited. -不开窍- ♂ (59 bytes) () 04/02/2009 postreply 08:37:39