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Myth - LLC's save you taxes, a regular LLC is Taxed the exact same as a Sole Proprietor...UNLESS...

Name: Myth - LLC's save you taxes, a regular LLC is Taxed the exact same as a Sole Proprietor...UNLESS...
Uploaded: 2022-09-04T23:44:02+00:00
Duration: 14 s
Channel: Loma Risper
Description: A single-member LLC is taxed the same as a sole proprietorship by default, with profits and self-employment taxes passing through to your personal…

4 Sept 2022 · 0 min

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A single-member LLC is taxed the same as a sole proprietorship by default, with profits and self-employment taxes passing through to your personal return. To actually save taxes, you need to file Form 2553 or Form 8832 to elect S-corp or C-corp status.