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At tax time.. having an LLC business...

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What is the name of your state? CA

My wife and I have an LLC (Limited Liability Company) and this is our first year. During the year we'll be paying business expenses from a separate, business account and keeping track of applicable biz expenses. Next tax year, do we simply add gross business income to our "day job" income and then likewise blend the biz deductions into our personal deductions all on one 1040?

Or do we fill out one set of taxes for the company and do our own individual taxes separately? Our LLC is set up as "transparent", if that helps any.
 



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