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Income splitting
How does a O/O (one truck) account for the income/taxes on that business? Do you pay yourself a 1099 and the business pay it's own taxes or do you just pay it all yourself? Should a single truck be totaly split off from the household taxes? My CPA says that a total split is not needed for a single truck. I get confussed.(my normal state) I somehow think that the my LLC should pay a 1099 to the family and the truck pay it's own taxes. HELP!!!!!
The LLC is registered in Michigan. Layoutshooter
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