'The aerial view can be difficult. The information is difficult to draw because there is so much information with lots of windows, park areas and buildings. 'I like London landmarks like the Houses of Parliament, St Paul's and Tower Bridge.
Step 1. File profit or loss from business on Schedule C. As a member of an LLC, you must report business income on Schedule C to Form 1040. This form contains lines that help you calculate your profit or loss and deduct appropriate expenses.
The Basics of Tax Law for LLCs. First, itâs important to understand how an LLC is structured according to tax law. Unlike a corporation, LLCs are not taxed as a separate business entity. Instead, all profits and losses pass through the business to each member of the LLC.