Your Guide to Filing LLC Taxes | What Small Business Owners Must Know
Filing LLC taxes can feel confusing — especially if it’s your first time. Between tax forms, deadlines, and figuring out what you can (and can’t) deduct, it’s easy to feel unsure where to start.
This guide breaks down how to file taxes for an LLC, what forms you’ll need, and which benefits could save you money — so you can file confidently and keep your business compliant.
Understand Your LLC Tax Obligations
When it comes to filing business taxes for an LLC for the first time,
the key is knowing how your LLC is taxed.
By default, the IRS treats:
- Single-member LLCs as sole proprietorships, meaning you’ll report business income and expenses on your personal return using Schedule C.
- Multi-member LLCs as partnerships, requiring a separate business tax return using Form 1065 and Schedule K-1 for each member’s share.
- LLCs electing S corporation status, which can sometimes reduce self-employment taxes, must file Form 1120-S.
Each structure has its own nuances, but understanding them early helps you plan for deductions, payroll, and quarterly payments — and avoid surprises later.
If you’re unsure how to file taxes for an LLC, this is where expert tax guidance can save time (and stress).
Gather Your LLC Tax Forms
Before filing, make sure you have the right LLC tax forms ready.
The forms you’ll need depend on how your business is structured:
- Schedule C (Form 1040): for single-member LLCs
- Form 1065: for multi-member LLCs
- Schedule K-1: issued to each LLC member
- Form 1120-S: for S corporation elections
- Form 941: if you run payroll
- State-specific tax forms for LLCs: depending on your location
Having the correct tax forms for your LLC ensures your filing is accurate and helps prevent costly IRS notices later. Keep detailed records of your income, expenses, and receipts. They’ll make LLC tax filing a lot smoother.
Consider LLC Tax Benefits
One of the best parts of forming an LLC is the potential for LLC tax benefits.
LLCs can often deduct common business expenses like:
- Office rent or home office space
- Business software and subscriptions
- Payroll and contractor payments
- Travel and professional development
Some owners may also qualify for the Qualified Business Income (QBI) deduction, which can reduce taxable income by up to 20%.
Understanding LLC tax benefits helps you keep more of what you earn, and makes professional bookkeeping a worthwhile investment when tax season rolls around.
Get Professional Help with LLC Taxes
Learning how to do taxes for an LLC takes time, and one mistake can lead to missed deductions or penalties.
That’s where Acuity comes in. Our team helps small business owners simplify LLC tax filing, stay compliant year-round, and understand what their numbers really mean.
We can handle all the details, from bookkeeping and filing business taxes to helping you assess whether your current business structure is still the best fit as your company evolves. With Acuity, you get clarity, confidence, and a team that’s in your corner every step of the way.
Ready to take the guesswork out of LLC taxes? Book a free consultation with Acuity to make your next filing season stress-free.