RitaB Posted April 16, 2007 Report Share Posted April 16, 2007 I am in TN, and LLC's here file Franchise & Excise Tax. Is there an income tax return for SMLLC's in GA? I have looked at GA Dept of Rev, but don't find what, if anything, my new client (yippee) needs to file. She will of course get an extension, but I am not sure how to proceed with GA. Thanks in advance! Quote Link to comment Share on other sites More sharing options...
RitaB Posted April 16, 2007 Author Report Share Posted April 16, 2007 I am in TN, and LLC's here file Franchise & Excise Tax. Is there an income tax return for SMLLC's in GA? I have looked at GA Dept of Rev, but don't find what, if anything, my new client (yippee) needs to file. She will of course get an extension, but I am not sure how to proceed with GA. Thanks in advance! Looks like she'll have to use GA 500. That's what we're going with, anyhow. Wow, I'm talking to myself, aren't I? Quote Link to comment Share on other sites More sharing options...
samingeorgia Posted April 16, 2007 Report Share Posted April 16, 2007 I am in TN, and LLC's here file Franchise & Excise Tax. Is there an income tax return for SMLLC's in GA? I have looked at GA Dept of Rev, but don't find what, if anything, my new client (yippee) needs to file. She will of course get an extension, but I am not sure how to proceed with GA. Thanks in advance! Single member LLC's are the same as sole props. If it's rental, it goes on Sch. E; if a business on Sch. C. So the 1040 income or loss just flows to the Form 500. Quote Link to comment Share on other sites More sharing options...
RitaB Posted April 16, 2007 Author Report Share Posted April 16, 2007 Single member LLC's are the same as sole props. If it's rental, it goes on Sch. E; if a business on Sch. C. So the 1040 income or loss just flows to the Form 500. Thanks, Sam. This family moved here, and all of them have been a PITA. They went LLC crazy, so now I have two 1065's to do, two TN FAE, and then this last girl who just got to TN with the SMLLC. Their record keeping is atrocious. Like so many - I'm sure you've seen them too - that want to run everything through their personal accounts then let me figure out whether it was a business expense. I'm going to have to give them the big lecture - I can hardly wait to dig in to these... Quote Link to comment Share on other sites More sharing options...
samingeorgia Posted April 17, 2007 Report Share Posted April 17, 2007 Be sure to CHARGE! them a hefty fee for this aggravation. Quote Link to comment Share on other sites More sharing options...
Gail in Virginia Posted April 25, 2007 Report Share Posted April 25, 2007 My favorite LLC this year was the one where they swore they were "incorporated," maybe an S corporation. When I asked for the paperwork where they incorporated, all they had were the LLC papers and a letter from the IRS directing them to file a 1065. OK, they are actually a partnership, right? Well, that would be fine except for one thing - there is only one member. I love people being able to set this stuff up on the internet all by themselves! Quote Link to comment Share on other sites More sharing options...
RitaB Posted April 25, 2007 Author Report Share Posted April 25, 2007 My favorite LLC this year was the one where they swore they were "incorporated," maybe an S corporation. When I asked for the paperwork where they incorporated, all they had were the LLC papers and a letter from the IRS directing them to file a 1065. OK, they are actually a partnership, right? Well, that would be fine except for one thing - there is only one member. I love people being able to set this stuff up on the internet all by themselves! Yes, I had two this year that did it all by themselves upon the advice of somebody at a seminar. It took forever to figure out what they had done. Actually had one a couple of years ago, had a Lawyer/CPA set it up, and they got the letter saying file 1065. They were SMLLC, too. I made him let the professional straighten it out. I sent him the directions for SS-4. Kinda mean of me, I know. Quote Link to comment Share on other sites More sharing options...
Recommended Posts
Join the conversation
You can post now and register later. If you have an account, sign in now to post with your account.