First of all, what exactly is an LLC? It stands for Limited Liability Company. Unlike a C Corp. or an S Corp. it is NOT considered a separate taxable entity. The IRS treats an LLC as if it doesn’t exist, unless certain elections are made.
Why an LLC? It could be great for your company because they are flexible when it comes to determining how you want to be taxed. Now, you have the option of taxing your LLC like a sole proprietorship, a partnership or a corporation by filing the appropriate forms with the IRS. How does that sound on the surface?
The question is…is it right for your company and YOUR future? Someone who has been working with LLCs for over two decades in Las Vegas may have the answers you need to know. His name is Michael Mathews. Michael is one of our area’s top corporation accountants working from his office in the Northwest and serving all of the Las Vegas area. This is a great time of year to give him a call and discuss your financial future at (702) 240-5237.