There isn’t a simple guide to follow because an LLC can take many different forms. Luckily, there are some aspects that every ...

Tax reporting requirements: Both sole proprietors and LLC owners are required to file ... and owners who want to pay a lower tax rate than they would with a corporation.” Growth potential ...

The self-employment tax rate is 15.3% of income ... So, what’s the difference when it comes to taxes? A sole proprietor (or an LLC being taxed as a sole proprietor) files a Schedule C each ...

Limited liability companies are hybrid entities that combine the characteristics of a corporation with those of a partnership or sole ... personal tax returns of the owners. Or, the LLC may ...