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Mary M posted a new Taxes thread on 5/15/2010

Taxes

do you file your business taxes with your personal taxes? or do you keep this separate?
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Marina Martin Responded on 5/15/2010


Hi Mary,

The answer to this question really depends more on your business structure than your personal preference. A sole proprietor must file her business and personal taxes together, while a C-corporation must file them separately. Depending on the laws of your state, a single-person S-corporation or LLC may be able to file them together, but a multiple-person business must file them separately. I would consult with an accountant.

If given the choice, I would probably file mine together because it means a little less work, and I think taxes take too long to prepare as it is.

Good luck,
Marina
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Wray Rives Responded on 5/16/2010


Marina is correct. The way you choose to operate your business determines how you file your taxes. Sole proprietorship is the only type of business that you would file in combination with your personal return.
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