Transitioned business from proprietorship to LLC - How to file taxes?
chris c asked:
I transitioned my business mid 2007 to an LLC. Should I file taxes as two separate businesses? The first to include income and expenses as the sole proprietorship and the second to include income and expenses after becoming an LLC.
I transitioned my business mid 2007 to an LLC. Should I file taxes as two separate businesses? The first to include income and expenses as the sole proprietorship and the second to include income and expenses after becoming an LLC.
Or should I just include everything under the LLC?
Thanks!
It is a single owner LLC with its own Tax ID.
Also, I do not have any employees.
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