Have You Outgrown Your LLC?

Most beginning business owners want the simplest business structure they can get. Chances are if you went to your attorney to ask what to form, you’d be advised to form an LLC (limited liability company).

That’s good advice. But, your choice doesn’t end there. You also need to decide how the LLC will be taxed. If you don’t make that choice, the IRS is all too happy to make it for you.

In the case of a single member LLC (one owner), the IRS will default your lLC to a Sole Proprietorship.

That means you will: