Question by Hollywood: I started a small at home business last year, do I have to file this under my personal taxes?
I will be filing my business taxes seperately but wanted to know if I needed to file it under my personal taxes too?
Answer by RANDALL M
If you are operating as a sole proprietor, You will use a schedule C which will be attached to your 1040.
If you are a Subchapter S corp, you will file that separately but will generate a K-1 that will be used to file your 1040.
If you are a C corp, it will file by itself and you will report any W-2 income or 1099 dividends you receive from it on your personal 1040.
If you are an LLC, you have already decided the business form you should use to file.
Hope this helps, good luck with that.
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