Single-Member LLC & Sole Proprietor Tax Preparation in Lexington, KY

Single-member LLC and sole proprietor returns

Running your business as a single-member LLC or a sole proprietorship means your business income flows straight onto your personal return — but that doesn't make it simple. Schedule C reporting means tracking gross receipts, cost of goods sold, and a long list of deductible expenses: home office, vehicle mileage, software, contract labor, and more. Get the categories wrong and you either overpay or invite a closer look from the IRS.

Premier Tax & Accounting has prepared Schedule C returns for freelancers, consultants, contractors, and small business owners across Lexington and Louisville, Kentucky for more than a decade. A single-member LLC is a "disregarded entity" for federal purposes — no separate business return required — but Kentucky still wants its state return filed correctly, and Fayette and Jefferson counties both apply local occupational license taxes on top of it. If your business operates inside Lexington city limits, LFUCG's occupational tax adds another layer we make sure gets handled.

We also help clients get ahead of self-employment tax, which catches a lot of first-time business owners off guard — 15.3% on net earnings, with no employer covering half. If you're not making quarterly estimated payments, we'll help you set up a system so April doesn't surprise you. And if your Schedule C income has grown to the point where an S-corp election might lower your tax bill, we'll walk you through that decision with real numbers, not guesswork.

Whether you drop off your documents, meet with us in person, or handle everything through our secure online portal, we treat your Schedule C return the same way we treat every return: carefully, with an eye toward what you'll owe next year, not just this one. Our team holds the IRS's Annual Filing Season Program (AFSP) credential, so you're working with preparers who stay current on the rules that affect your bottom line. Ready to get your LLC or sole proprietorship taxes handled right? Book a consultation today.

Personal tax returns

Also need to file your own personal return? We handle individual tax prep too — W-2s, self-employment income, rental property, and more. See our other services or book a free consultation to talk through what you need.

Tax Planning

You do not have to own a business to take advantage of our tax planning. The key to our success is making sure there are no surprises. Owning a business involves making tough decisions from the start. We're here to guide you through each choice, leveraging our extensive experience across various industries and business structures.