Can I transfer Sole Prop. earnings into my LLC?
Hi, I have an LLC but do not use it. I work with a partner at our clients pay him and he then gives me my percentage of the earnings. I file my taxes as a sole prop. that said, I'd like to open a solo 401K and to do so with a brokerage like Vanguard or Schwab, they require an EIN. I was wondering two things: 1. can I just use my LLC EIN even though I have no earnings through it specifically and 2. if I need to have earnings, can I simply transfer that into the LLC?
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