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Navigating Tax Responsibilities: Insights for US LLC Owners
Income Tax:
LLC owners are treated as pass-through entities for federal income tax purposes.
This means that the LLC itself does not pay federal income tax. Instead, the LLC’s income is passed through to the owners, who then pay federal income tax on their share of the income…
Understanding the Variances: LLC vs. C-Corp vs. S-Corp
The Big Picture:
All three – LLC, C-Corp, and S-Corp – are business structures that offer limited liability protection, meaning your personal assets are safe from business debts and lawsuits. But that’s just the tip of the iceberg. Each structure has its own unique quirks and perks, and understanding them is key to unlocking your business’s true potential.