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re: Better to form an LLC or keep it personal
Posted on 9/20/13 at 10:55 am to reb13
Posted on 9/20/13 at 10:55 am to reb13
quote:
Not true.
Can you explain this? My understanding is that it is a flow through entity.
The LLC does not pay its own taxes; the member/owners pay the taxes. The gains/losses pass through to your personal k-1 when you file your own taxes.
1
Posted on 9/20/13 at 11:14 am to NEWBIE
A true LLC is not a flow through entity, it is a corporation. There are a lot of different ways to file and I do not know all of the idiosyncrasies. But the benefit from a LLC is that it is a protector against full liability.
I am sure poodlebrain will come in here and point everyone in the right direction I am just a grad student studying corps and partnerships right now.
I am sure poodlebrain will come in here and point everyone in the right direction I am just a grad student studying corps and partnerships right now.
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