Which return does my business file?
A single-member LLC or sole proprietor usually reports business income on Schedule C with the owner’s personal return. A multi-member LLC usually files a partnership return, and an LLC that elected S corporation status files Form 1120-S. We look at how your business is set up and file the right forms.
Partnership and S corporation returns are usually due March 15, a month before personal returns. For the 2026 tax year that is Monday, March 15, 2027. Sole proprietors and single-member LLCs file with the personal return by April 15.
Self-employment tax and quarterly payments
Self-employed owners pay self-employment tax on most of their net earnings: 12.4 percent for Social Security up to a yearly limit plus 2.9 percent for Medicare, on top of income tax. Because no employer withholds it, the IRS expects quarterly estimated payments in April, June, September and January. We help you set the amounts so you are not hit with a large bill and penalties.