Anyone here have an LLC and pay quarterly taxes?

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  • clickhappy
    Confirmed User
    • Mar 2004
    • 4027
    #1

    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, 08:19 PM.
    Tags: None
    • pocketkangaroo
      Confirmed User
      • Jan 2005
      • 8452
      #2
      Personal SS#. The quarterly taxes are for yourself, not your business. An LLC passes everything on to your personal taxes.

        Comment

        • bronco67
          Too lazy to set a custom title
          • Dec 2006
          • 29026
          #3
          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.

            Comment

            • Barefootsies
              Choice is an Illusion
              • Feb 2005
              • 42635
              #4
              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.
              Should You Email Your Members?

              Link1 | Link2 | Link3

              Enough Said.

              "Would you rather live like a king for a year or like a prince forever?"

                Comment

                • FrozenJag
                  Confirmed User
                  • Oct 2006
                  • 1763
                  #5
                  I have an LLC and send quarterly.

                  The business name is on the check that gets sent.

                    Comment

                    • StinkyPink
                      It's all goooood.
                      • Aug 2009
                      • 1591
                      #6
                      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.

                        Comment

                        • fatfoo
                          ICQ:649699063
                          • Mar 2003
                          • 27763
                          #7
                          No such thing in Canada, I think. We have other types of corporations.
                          Send me an email: [email protected]

                            Comment

                            • clickhappy
                              Confirmed User
                              • Mar 2004
                              • 4027
                              #8
                              Originally posted by pocketkangaroo
                              Personal SS#. The quarterly taxes are for yourself, not your business. An LLC passes everything on to your personal taxes.
                              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

                                Comment

                                • JP513
                                  Confirmed User
                                  • Feb 2007
                                  • 1914
                                  #9
                                  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.

                                    Comment

                                    • fallenmuffin
                                      Confirmed User
                                      • Nov 2005
                                      • 8170
                                      #10
                                      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/

                                        Comment

                                        • FrozenJag
                                          Confirmed User
                                          • Oct 2006
                                          • 1763
                                          #11
                                          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.

                                            Comment

                                            • JP513
                                              Confirmed User
                                              • Feb 2007
                                              • 1914
                                              #12
                                              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.
                                              I don't always drink beer, but when I do, I wish I was drinking wine instead.

                                                Comment

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