LLCs changing from partnership tax treatment to corporation or vice-versa may encounter issues including gain recognition.

Expertise from Forbes Councils members, operated under license. Opinions expressed are those of the author. Registering a limited liability company (LLC) is a popular method for starting a business, ...

Editorial Note: We earn a commission from partner links on Forbes Advisor. Commissions do not affect our editors' opinions or evaluations. You might have heard it from a friend, or maybe you saw it ...

Taxation is one element to consider when choosing a business structure for your company. One unique aspect of Limited Liability Companies (LLCs) is your ability to decide how they will be taxed. That ...

Sometimes a limited liability company, or LLC, has a year with no business activity. For example, a newly formed LLC might ...

Limited liability companies (LLCs) are what's called "pass-through entities." This means that the business does not pay corporate income taxes. Instead, the individual owners or members of the LLC ...

Knowing which expenses your LLC can deduct is fundamental to maintaining healthy business finances. Every legitimate business expense you properly document and deduct reduces your taxable income, ...

The IRS on Thursday issued Notice 2021-56 to clarify the standards that a limited liability company (LLC) must satisfy to receive a determination letter recognizing it as tax-exempt under Sec.

A limited liability company (LLC) is a business that offers management flexibility, pass-through taxation and, in most cases, personal asset protection during bankruptcy or lawsuits. Often, your home ...