Posts by tag: business taxes

Running a Limited Liability Company (LLC) often comes with the expectation of profits, but not all businesses thrive immediately. If your LLC isn't making money, it's important to understand what this means for your tax filings. Navigating the waters of deductions, potential losses, and IRS rules can seem daunting. This article demystifies the steps to take, ensuring you remain compliant while looking after your financial interests.

A Single-Member Limited Liability Company (LLC) is a popular business structure due to its simplicity and flexibility. One of the key benefits is how it's taxed, often considered a disregarded entity for federal tax purposes, blending seamlessly with your personal income taxes. This article explains what that means and how to navigate tax filing as a single-member LLC owner. We’ll discuss how these entities are treated by the IRS, the unique deductions available, and common tax-time strategies.