Jerry Jones CPA
Wouldn’t it be nice to have a CPA that you deal directly with, that understands your business, that works in all 50 states and is there for you when you need him?

Schedule E Vs. LLC Return

Bad news, it seems like “tax preparers” across the country have been preparing LLC tax returns when the only owners of the LLC are a husband/wife or each as an individual. This is a grievous error. This type of ownership is known as a “sole owner” LLC and is not required and should not be filed as a separate return. It is to be shown on the owners’ personal tax return as a Schedule E. The only reason to file the LLC return would be for the “tax preparer” to generate more fees.

If you as the owner(s) have been filing separate tax returns for your “sole owner” LLC, seems like it is time to look for a CPA that understands the law, not just a tax preparer. If you would like to discuss this in further detail, please feel free to give me a call. 1st call is on me!

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