Embarking on a business adventure is an exciting time. There are a lot of decisions to make that will have an overall impact on your business. One decision is the type of business entity you want, which is based on your business goals.
If your research led you to form an LLC over another business entity, you will need to think about taxes. The
Internal Revenue Service has different rules and regulations when it comes to business taxes, and it can be confusing to keep track of everything tax-related. There are
tax forms for sole proprietorships,
tax forms for partnerships, tax forms for
S Corps and
C Corps, and even
tax forms for NPOs. Before your head starts spinning, hold on because all of your LLC tax related questions will be answered and you’ll be fully prepared to tackle LLC taxes.