One Reply to “2021 LCC and 2020 receipts”

  1. Your business started when you took profit-motivated actions, not when the llc was formed. No, you cannot apply 2020 expenses towards 2021 outside of carrying loss forward or depreciation. Most likely it’s possible to apply them to your 2020 taxes. One thing to remember, your llc has zero impact on your taxes unless you form as a partnership or elect to be taxed as a corporation. If neither apply, the irs pretends your llc is just you personally.

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