Yep, and when the person asking above says: "I am a sole proprietor LLC filing as a S-Corp," there is certainly clarification needed (although my guess would be one person "S Corp," or he would not know the words "filing as an S Corp"). And I would say if you were to have to guess it is much easier to keep separate and then combine later vs. having to split apart later. Doing that for a client right now who was misguided by two bad accountants on QB and what a mess to clean-up. Starting with amending tax returns to avoid 75% tax penalty for fraud for taking large Distributions and not paying any payroll taxes.