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Filing 2011 Tax Return - Sole Proprietor LLC
by Riley, Window Shopper
- Created: April 1, 2012, 12:32 pm
I am the owner of a sole Proprietorship, LLC in MA. The business was started on 1/2/2011. I decided to use a payroll service to pay myself rather than pay estimated quarterly taxes. I do not have any employees. I paid federal, MA state, FICA (employer and employee) and Medicare (employer and employee) taxes throughout all of 2012 - payroll was run monthly.
I am now filing my 2011 income tax return and am confused as to how I report my income on the 1040 - based on the W-2 the payroll company provided me from my own LLC (I had no other employers/W-2's in 2011). Can I report salary that I paid myself through the payroll company in the wages section and employer payroll taxes (the employer FICA and employer Medicare I paid on my own income) in the tax section of Schedule C?
Any assistance or advice will be greatly appreciated.

BizResearcher | Window Shopper | 4/10/2012 - 1:42 pm
is unusual for a single member LLC to use a payroll service and it may
actually be costing you more than it would to pay estimated taxes each
quarter.
kmurray | Community Moderator | 4/5/2012 - 10:54 am
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