Tax Law (Questions About Taxes)/tax


Is there any tax advantage of having an llc for a internet business?

Tax Samaritan
Tax Samaritan  
Hi Al, as far as a tax advantage of an LLC for an internet business, are you considering other entity types. If you are a single-owner LLC, the LLC is treated by default from a tax perspective as a sole proprietorship in which reporting would be done on Schedule C as part of your individual tax return. If there are multiple owners, then the default tax entity would be partnership.

If you have further questions, please don't hesitate to let me know.

Best regards,

Tax Samaritan
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Randall Brody, EA, MBA, CCP


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