Anyone here have an LLC and pay quarterly taxes? - GoFuckYourself.com

clickhappy · 09-01-2009, 09:18 PM

I formed an LLC a few months ago and Im now writing a check for my quarterly taxes.

In the past I just put my name and social security # on the check.

But now do I write my name and EIN number on the check and send it in? Or do I continue with my personal name and SSN?

thanks

pocketkangaroo · 09-01-2009, 09:27 PM

Personal SS#. The quarterly taxes are for yourself, not your business. An LLC passes everything on to your personal taxes.

bronco67 · 09-01-2009, 09:28 PM

https://www.pay1040.com/

Been using this site for the year so far, and it works out great. A few clicks and your done, and no paperwork to deal with.

Barefootsies · 09-01-2009, 09:44 PM

Quote:

Originally Posted by pocketkangaroo

Personal SS#. The quarterly taxes are for yourself, not your business. An LLC passes everything on to your personal taxes.

Correct.

FrozenJag · 09-01-2009, 09:45 PM

I have an LLC and send quarterly.

The business name is on the check that gets sent.

StinkyPink · 09-01-2009, 09:47 PM

I file my quarterly via telefile. So I have no idea. It was for a business I never did anything with due to a falling out I had with a partner. I kept the name and file zero every quarter, so no need for checks. I may decide to give it a go again sometime down the line.

fatfoo · 09-01-2009, 10:07 PM

No such thing in Canada, I think. We have other types of corporations.

clickhappy · 09-01-2009, 10:43 PM

Quote:

Originally Posted by pocketkangaroo

Personal SS#. The quarterly taxes are for yourself, not your business. An LLC passes everything on to your personal taxes.

Quote:

Originally Posted by FrozenJag

I have an LLC and send quarterly.

The business name is on the check that gets sent.

So 2 different opinions on this. Ill call the irs tomorrow and ask them

JP513 · 09-01-2009, 11:30 PM

FWWIW, I don't use an LCC. I use an S-corp and though the taxes pass through, I am an employee and the company has the obligation to pay my personal taxes just as any company would. The advantage of an S-corp is you/the company only has to pay SS/Medicare tax on the portion my company pays me as salary, NOT the full amount the company earns.

fallenmuffin · 09-02-2009, 12:26 AM

Quote:

Originally Posted by bronco67

https://www.pay1040.com/

Been using this site for the year so far, and it works out great. A few clicks and your done, and no paperwork to deal with.

A few clicks? I have mine scheduled to automatically pay through the government's website.

https://www.eftps.gov/eftps/

FrozenJag · 09-02-2009, 03:49 AM

Quote:

Originally Posted by JP513

FWWIW, I don't use an LCC. I use an S-corp and though the taxes pass through, I am an employee and the company has the obligation to pay my personal taxes just as any company would. The advantage of an S-corp is you/the company only has to pay SS/Medicare tax on the portion my company pays me as salary, NOT the full amount the company earns.

Exactly, my accountant set mine up as "an LLC setup as an S corp" to take advantage of tax breaks.

But yeah I would call and see exactly what you should do, taxes arent a guessing matter.

Good Luck.

JP513 · 09-02-2009, 01:03 PM

Quote:

Originally Posted by FrozenJag

Exactly, my accountant set mine up as "an LLC setup as an S corp" to take advantage of tax breaks.

But yeah I would call and see exactly what you should do, taxes arent a guessing matter.

Good Luck.

Big pimpin.

And this is all 100% allowed by the IRS, so you're not sweating your balls off.

09-01-2009, 09:18 PM	#1
clickhappy Confirmed User Industry Role: Join Date: Mar 2004 Posts: 4,027	Anyone here have an LLC and pay quarterly taxes? I formed an LLC a few months ago and Im now writing a check for my quarterly taxes. In the past I just put my name and social security # on the check. But now do I write my name and EIN number on the check and send it in? Or do I continue with my personal name and SSN? thanks Last edited by clickhappy; 09-01-2009 at 09:19 PM..

09-01-2009, 09:28 PM	#3
bronco67 Too lazy to set a custom title Join Date: Dec 2006 Posts: 29,035	https://www.pay1040.com/ Been using this site for the year so far, and it works out great. A few clicks and your done, and no paperwork to deal with. __________________

09-01-2009, 10:07 PM	#7
fatfoo ICQ:649699063 Industry Role: Join Date: Mar 2003 Posts: 27,763	No such thing in Canada, I think. We have other types of corporations. __________________ Send me an email: [email protected]

09-01-2009, 11:30 PM	#9
JP513 Confirmed User Join Date: Feb 2007 Location: The Republic of Barebackistan Posts: 1,914	FWWIW, I don't use an LCC. I use an S-corp and though the taxes pass through, I am an employee and the company has the obligation to pay my personal taxes just as any company would. The advantage of an S-corp is you/the company only has to pay SS/Medicare tax on the portion my company pays me as salary, NOT the full amount the company earns. __________________ I don't always drink beer, but when I do, I wish I was drinking wine instead.

09-01-2009, 09:27 PM	#2
pocketkangaroo Confirmed User Join Date: Jan 2005 Location: Chicago, IL Posts: 8,452	Personal SS#. The quarterly taxes are for yourself, not your business. An LLC passes everything on to your personal taxes.

09-01-2009, 09:45 PM	#5
FrozenJag Confirmed User Join Date: Oct 2006 Posts: 1,763	I have an LLC and send quarterly. The business name is on the check that gets sent.

09-01-2009, 09:47 PM	#6
StinkyPink It's all goooood. Industry Role: Join Date: Aug 2009 Location: The Hoe Stroll Posts: 1,591	I file my quarterly via telefile. So I have no idea. It was for a business I never did anything with due to a falling out I had with a partner. I kept the name and file zero every quarter, so no need for checks. I may decide to give it a go again sometime down the line.