There is one slight advantage to a single member LLC. If you are the sole owner of the entity (single member LLC) you can choose to be taxed as a sole proprietor or corporation (C or S). If you are willing to be taxed as a “sole proprietorship,” then you don’t need to get an EIN. You will still operate as an LLC, but it will be a “disregarded entity” in the eyes of the IRS.
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LLC Entity Classification What is It and How to Get It? NS LLC entity classification and how do you get it? An LLC is short for limited liability company. Some people think and LLC entity classification is short for limited liability corporation, but that’s not right. An […]
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