limited liability company

Why an LLC Might be the Best Choice of Entity for Your Business

Why an LLC Might be the Best Choice of Entity for Your Business

The business entity you choose can affect your taxes, your personal liability and other issues. A limited liability company (LLC) is somewhat of a hybrid entity in that it can be structured to resemble a corporation for owner liability purposes and a partnership for federal tax purposes. This duality may

Sonya Foster2022-09-20T09:19:07-06:00September 20th, 2022|

When are LLC members subject to self-employment tax?

When are LLC members subject to self-employment tax?

Limited liability company (LLC) members commonly claim that their distributive shares of LLC income — after deducting compensation for services in the form of guaranteed payments — aren’t subject to self-employment (SE) tax. But the IRS has been cracking down on LLC members it claims have underreported SE income, with

Sonya Foster2021-04-12T14:55:30-06:00March 12th, 2019|