Software Consultant Sole Member LLC in Williamson County TN: Licenses

[jqure...@gmail.com]

I am a software developer / IT consultant trying to establish my own software
consulting business.

I have established a sole member LLC on the TN secretary of state website and
registered the LLC with Williamson County register of deeds. I have given my
home address as LLC address. I have also obtained an EIN from IRS.

1) Do I need to get any business licenses from the city and / or county?

2) What state taxes do I have to pay?

3) What are the various tax filings that I have to do?

4) Are there any filings with city and / or county?

I have spent an entire day calling different offices of State, City and County
and never got a consistent answer from any of them. In-fact when I call again
I get a different answer from each office.

Any help is appreciated!

=======================================
Comment from Moderator:

You are in a situation very common to Do-It-Yourselfers who want
to save money by avoiding Attorneys and CPA's. Either one should
be able to answer your questions.

Be aware that the IRS goes after sole practioners to disallow
business expenses, insurance plans, and 179 items. If you don't
know what a 179 item is, run, don't walk, to a Tax Attorney or a
CPA.

Dick

[Mark A]

jqureshi24 wrote:

> I am a software developer / IT consultant trying to establish my own
> software consulting business.
>
> I have established a sole member LLC on the TN secretary of state
> website and registered the LLC with Williamson County register of deeds.
> I have given my home address as LLC address. I have also obtained an EIN
> from IRS.
>
> 1) Do I need to get any business licenses from the city and / or county?
>
> 2) What state taxes do I have to pay?
>
> 3) What are the various tax filings that I have to do?
>
> 4) Are there any filings with city and / or county?
>
> I have spent an entire day calling different offices of State, City and
> County and never got a consistent answer from any of them. In-fact when
> I call again I get a different answer from each office.
>
> Any help is appreciated!

Even though you have a federal EIN, since you are a sole member LLC, the IRS prefers
that run everything through your personal SSN on your tax return (the EIN would be a
disregarded entity) and therefore you would file Schedule C on your 1040 return for
your profit/loss from your business. You can do this even if receive a 1099, etc for
your EIN. This will take care of any federal and state income taxes and also
self-employment payroll taxes. If you don't already do so, I would recommend using a
software program like Turbo-tax to handle this (Deluxe Edition is fine for Schedule
C, unless you really want to spring for the Home and Business Edition).

I have no idea about any filings with the city and / or county you live in, as that
varies significantly from one area to another. If you were previously an employee of
another company in that same location, look to see what city and / or county taxes
were paid on your W-2. Typically cities and counties don't require a business
license unless you have a separate physical presence or are in a certain line of
business that is regulated by them (such as a restaurant, etc).