I’m a Certified Public Accountant (CPA) and Certified Fraud Examiner (CFE) with 15+ years of experience in accounting, finance, and business consulting. I started my career in forensic accounting and financial advisory at RSM, then transitioned into financial software consulting with Infor, Inc., and later served as CFO of an e-commerce company before founding my own firm.
Today, I lead KFN Accounting & Financial, LLC, a national consulting practice helping startups and small to mid-sized businesses with accounting, tax strategy, financial modeling, and fractional CFO services. I’ve advised over 100 clients across industries—restaurants, e-commerce, logistics, SaaS, real estate, and nonprofits—on scaling operations, optimizing cash flow, reducing taxes, and preparing for growth or exit strategies.
In addition, I’m an angel investor, having invested in multiple startups across technology, consumer products, and service-based businesses. This gives me a unique perspective on what investors look for, how to structure deals, and how entrepreneurs can position themselves for growth and funding.
If you need actionable guidance on tax planning, QuickBooks, business structure, investor reporting, raising capital, or financial strategy, I can help you make confident, informed decisions.
Since your LLC is a single-member LLC, the IRS treats it as a disregarded entity (unless you’ve elected corporate taxation). That means all business activity flows through your personal tax return—you’ll file a Schedule C (Profit or Loss from Business) with your Form 1040.
Here’s how your numbers play out:
• The $1,000 you transferred into the LLC’s bank account is not taxable income—it’s simply your capital contribution (money you invested into your own business).
• The $400 spent on legitimate startup/business expenses is deductible. Since you had no income, your Schedule C will show a $400 business loss.
• That loss can offset other taxable income on your return (like W-2 wages), potentially reducing your overall tax bill.
• You will not owe self-employment tax on the LLC this year because there was no net profit.
In short, you’ll report the LLC activity even if it’s unprofitable. The contribution isn’t taxable, the expenses are deductible, and the net loss may help lower your taxable income for 2023.