Article Date:
December 2009


Word Count:
442

 

 

How Many Tax Diaries for Three Businesses?


I am the sole owner of two S corporations, and I have one LLC that owns seven rental properties. How many tax diaries do I need? (G.C., Bethesda, Md.)

 

We’ll get to your tax diary in a moment. But first, let’s examine your checking accounts.

 

You probably have three business checking accounts. If not, you should. You might need even more, as discussed below.

 

Each of the three activities you describe is a separate taxable activity. The two ... Log in to view full article.

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