LLC Tax Question

[Michael Seeker]

So I just created an LLC (I can't believe how quick/easy it was). I have am the sole partner and registered as a disregarded entity.

I created the LLC in Nov of this year (2011). I will have no income, debt, funding, or ANYTHING done with this LLC until 2012. I'm not even sure why I rushed to do this, just thought I had a catchy name and went with it.

What am I looking at for filing my 2011 taxes? I had assumed I would just need to write in a big goose-egg somewhere for my business income/loss on my regular 1040 form.

Will I still be able to file the 1040EZ online stuff through taxslayer? Would it be worth extra expense to have a tax pro look at my stuff and if so, should that tax pro be versed in RE or is personal tax sufficient?

I do have 2 rental properties that aren't currently held in my LLC.

Any guidance would be greatly appreciated!!!

-Mike

[Joel Block]

Acquiring an LLC or other entity takes your responsibility up several notches and at the time, your expenses will go up too. It is a horrific mistake to "do-it-yourself" in the formation of the LLC and doing the taxes without the watchful eye of someone who knows what they are doing could subject you to IRS penalties, interest and further scrutiny.

Jon is right that you can no longer file an EZ return. Do not take tax advice from people on this site who "think" they know. The law is very serious and structuring a proper vehicle for tax avoidance and asset protection is likewise complex. This website is not the best place for advice on these matters - unless it is coming from an attorney or CPA - and even then it will not be advice, it will be basic information that is not about your particular situation.

Good luck.