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I've looked at Credit Karma tax free, but I'm a bit nervous as I own a California LLC (100% sole owner), and also have capital gains, dividends, write-offs. Is
by nodesocket 10y ago
I've looked at Credit Karma tax free, but I'm a bit nervous as I own a California LLC (100% sole owner), and also have capital gains, dividends, write-offs.
Is Credit Karma a good choice for more complicated returns? Last year I paid H&R $650 for literally one hour of time which infuriated me.
- uiri 10y agoFor tax purposes, a Single-Member LLC can be treated as a disregarded entity (i.e. similar to a sole proprietorship - all the business income and expenses go on your personal return). https://www.irs.gov/businesses/small-businesses-self-employed/single-member-limited-liability-companies https://www.irs.gov/businesses/small-businesses-self-employe...
- dustinhlyons 10y agoThis is our first year, so we don't currently support filing as an LLC (just individual income/loss as a result of a small business): https://help.creditkarma.com/hc/en-us/articles/216489263-Credit-Karma-Tax-frequently-asked-questions#q8 https://help.creditkarma.com/hc/en-us/articles/216489263-Cre...
- nodesocket 10y agoI'm 100% owner of the LLC, so all income is mixed with my personal. Just need the ability to do itemized deductions including rent.
- ensignavenger 10y agoI just did my taxes with them, and it does have some support for business income and loss, so I think in your case (pass-thru entity) you may be okay- I didn't have to use this section this year as all of my income came from my salaried position this year, so I can't ssay for sure how it works.