LLC Tax Returns

LLC Tax Returns

The Limited Liability Company or “LLC” business structure is one of the most popular business entity structures in the US and for good reason.  The LLC business structure allows ownership structure flexibility, liability protection, and affords a great range of tax management options.

But there can be some pitfalls to have an LLC form of business:

  • If you have recently started an LLC, but have not requested special tax treatment from the IRS, the IRS will treat your new company as a sole proprietor or a partnership. For some, this default tax treatment can result in greater tax liabilities.
  • Because a LLC can choose how to be taxed based on how many owners/members there are, the choice may require a tax structure election at federal tax level.
  • In order to keep the legal liability protection that a LLC structure offers, a business owner must operate the business under a specific set of rules.
  • Many states tax LLC differently then other forms of business and charge higher registrations fees.
  • In some states, the exit of an owner/member of an LLC forces the entire LLC to dissolve, forcing the business close and the remaining LLC owner/member(s) to create a new LLC entity from scratch.

Zagotti & Burdette understands the LLC business structure and the tax options available to those who choose this form of business.  We have many years experience guiding clients through the range of tax options available based on their individual circumstances and business plans.

We don’t just prepare your LLC tax return, we look at your return holistically to provide tailored solutions just for you and your business.

Call (832) 800-3347 today to schedule your free appointment today.