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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Posts Tagged Single or Multi Member LLC
Free LLC Operating Agreement
If you are starting a business, one of most important things you'll want is PROTECTION! The LLC is by far the BEST asset protection vehicle for your business and can SAVE you THOUSANDS per year in taxes.
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