Hi all, my first post here after lurking for a bit. This is a relativly simple question I'm sure, but something that is not quite making sense yet to me. I am planning to start an LLC, I read up on everything, have a good idea of how it all works except for one thing. What happens when I have a single member LLC EIN as the Tax ID for AdSense, et al. Since the 1099 would be filed with the EIN how would I go about accounting for that in my personal 1040? or would I even do that? Will I have to end up treating the LLC as a partnership even with one member? I do have a visit to the CPA lined up so I'm sure I could get all this answered then, but thats not gonna happen for a bit yet, and I like to be prepared with as much info as I can anyway
Your EIN is for transacting business in the name of the business. If you choose to be taxed as a sole proprietor it will go on your schedule C.