Can A Single-Member LLC Be Taxed As An S-Corp
Yes, a single-member LLC can elect S-Corp status by filing IRS Form 2553, as long as the owner is a U.S. citizen or resident and meets all other eligibility requirements....
LLC
Articles cover LLC structures for real estate, tax treatment, and liability protection for business debt.
What Happens To An LLC If The Owner Dies Or Leaves
Unless your operating agreement says otherwise, the LLC usually continues to exist but your ownership interest passes to your estate or heirs upon death, or must be sold to remaining...
What Is A Series LLC And Which States Allow It
A series LLC is a special type of limited liability company that partitions assets and liabilities into separate, protected internal cells or 'series' under one master LLC, and it is...
What Is The Difference Between A Sole Proprietorship And An LLC
A sole proprietorship is the automatic, default status of doing business as an individual with no legal separation from your personal assets, while an LLC is a formal state-registered entity...
Does An LLC Protect My Personal Credit Score From Business Debt
An LLC alone does not protect your personal credit score from business debt because most lenders require a personal guarantee, making you directly liable. Your personal credit is only shielded...
How To Convert A Sole Proprietorship To An LLC Without Disrupting Operations
You can convert seamlessly by forming the LLC first, then transferring assets and contracts via an assignment agreement, and immediately adopting the LLC’s EIN for new transactions while keeping the...
How To File A DBA For A Sole Proprietorship Or LLC
File a “Doing Business As” (DBA) registration with the county clerk’s office where your business operates, or with the state if required, and pay the filing fee. The process is...
How To Form An LLC In Any State: Step-by-Step Filing Guide
To form an LLC, you must file Articles of Organization with your specific state’s Secretary of State office and pay the filing fee; while forms vary slightly, the core legal...
How To Pay Yourself From An LLC: Owner's Draw Vs Salary
If you are a single-member LLC (or multi-member taxed as a partnership), you legally cannot pay yourself a salary and must take money via an owner's draw; if your LLC...
LLC Vs S-Corp Tax Election: How To Choose The Right One For Your Business
An S-Corp election typically makes sense once your LLC's net profit exceeds roughly $60,000–$70,000 because the self-employment tax savings finally outweigh the added payroll and accounting costs; below that threshold,...
What Is A Registered Agent And Do I Need One For My Business
Yes, every LLC, corporation, and nonprofit is legally required to have a registered agent with a physical street address in the state of formation to accept service of process and...
When Should A Sole Proprietor Become An LLC
You should become an LLC when your revenue can comfortably absorb the ongoing compliance costs and you face a meaningful risk of liability that your insurance doesn't fully cover, typically...
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