Maryland LLC Tax Help for a New Wholesaler!!!
Hi Everyone!
I'm a pretty young and inexperienced investor. I've only completed one wholesale deal last year 2018 (I made $8,000) through an LLC I have. I'm trying to file my Maryland annual report before the due date April 15th (I know I definitely should have hired an accountant way before this but I think it's too late now!?). I have some really important questions below:
- Considering my LLC does not own, lease, or use personal property located in Maryland right now, I think that I do not have to file a personal property tax in addition to the annual report, correct?
- The Annual Report form says the filing fee is $300 for a domestic LLC; Do I include a check simultaneously for that when sending this form?
- Would I say the $8,000 I made last year is the amount of "gross sales" requested on the Annual Report Form?
- In addition to the Annual Report form, do I still need to file separate taxes? (I do my personal taxes through turbo tax - could I do my LLC's through there as well?
I'm really sorry if these are dumb questions, but any help with these would be GREATLY APPRECIATED!! Thank you so much!
Best,
Spencer Liang