all business profits are taxed at the corporate rate. Any profit distributions taken by LLC members are also subject to personal income taxes; this is known as double taxation. Members of a C corp don’t have to pay self-employment taxes, but any member that is paid a salary by the LLC...
The businesses within the main LLC each have their own liability protection, business purposes, and assets, making them their own entities. Series LLCs allow business owners to protect all their separate businesses while grouping them together. These business structures are popular for property rental...
2M expects and appreciates the high quality of service delivery that we have received from our CPA, Merian L. Callaway, in managing both our corporate and personal income taxes for over 15 years. We are pleased to recommend her services. ‘‘ Leonard D. Morrow, Jr Vice President, 2M ...
The default tax situation for an LLC is that it doesn’t pay federal income taxes directly. Instead, its profits go straight to the owners, who then report this money and pay personal income and self-employment tax on their earnings. This process is known as “pass-through taxation.” Belo...
Business formation and ongoing support from a single source. Services aimed at keeping your personal information private. Competitive pricing compared to other LLC services. Cons Many upsells for ongoing services. Cheaper registered agent services are available elsewhere. ...
future taxes Tax Planning The key to paying less income taxes is proactive tax planning. We help you structure your business entities and personal spending ahead of time in ways that maximize your tax deductions and credits and legally minimize your IRS and state income taxes for the long term...
the IRS treats it the same as if you were a self-employed sole proprietor and ignores your business’s structure entirely (i.e., a disregarded entity). This means that your LLC’s profits aren’t dealt with separately, and you will instead pay personal income and self-employment tax on ...
Not Just Taxes– Working together with you, our client, we look at the big picture – your business, personal and family financial needs – not just your taxes. We work to help you achieve your business, financial, and family goals. For businesses that are in transition caused by financial...
An LLC is a private, limited Business Structure most commonly used to form legal business entities. Each state has separate definitions and official registrar (SOS).
LLCs are flexible business structures. YourLLCseparates business and personal liabilities. All owners have shared tax responsibilities. An LLC provides you with liability protection, like corporations, without double taxation. Your business avoids double corporate taxation since you canpass through taxesto...