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LLC owners must report their business income and losses on their personal income tax returns Similar to a sole proprietorship or partnership you must report your income to the IRS. An LLC is not a separate tax entity like a corporation. The IRS considers Limited Liability Company a 'pass through entity." Earnings are taxed only once. Profits and losses of the LLC 'pass through' the business
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There are several advantages to establishing a limited liability company and many of these compensations revolve around the tax advantages. A limited liability company if often sought as a third alternative to forming a corporation or a partnership. Many corporations are formed because they offer attractive limits on the personal liability that the business may suffer due to debts or liabilities. Partnerships don't offer the same kind of
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Author's Note:This article is the third in a series by Tax ExpertWayne Davies on the advantages of incorporating your smallbusiness or self-employment activity. Article #1:It Can Happen To You:Why Any Sole Proprietorship Is A Risky Businesshttp://www.YouSaveOnTaxes.com/happen-to-you.txtArticle #2:How To Avoid Double The Trouble:Why A Partnership Can Be Twice As Dangeroushttp://www.YouSaveOnTaxes.com/double-the-trouble.txtArticle #3:Three's Company: How To Move From Unlimited Liabilityto Limited Liabilityhttp://www.YouSaveOnTaxes.com hree-is-company.txt------------------------------------------------------------For the
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New Jersey LLC Seal News Updates

  • D-Will's double-double lifts Nets over Sixers in OT
    Deron Williams scored 34 points, including a go-ahead 3-pointer with 26.8 seconds left in overtime, to help lift the New Jersey Nets to a 97-90 victory over the Philadelphia 76ers on Wednesday night.
    Wed, 25 Jan 2012 21:41:15 -0800

  • BP, Cabot, JPMorgan, Commerzbank, Morgan Stanley in Court News
    BP (BP/) Plc can’t collect from Halliburton Co. (HAL) part of the billion in cleanup costs and economic losses caused by the 2010 oil-well blowout and Gulf of Mexico spill.
    Tue, 31 Jan 2012 21:38:02 -0800

  • NYSE-Deutsche Boerse in Balance as Chiefs Meet in New York
    Time is running out on efforts by Reto Francioni and Duncan Niederauer to win approval for the merger of Deutsche Boerse AG and NYSE Euronext.
    Wed, 11 Jan 2012 06:42:37 -0800

  • NYSE-Deutsche Boerse Deal Hangs in Balance as Francioni Visits Niederauer
    The chief executive officers met in New York today, seeking to overcome opposition to their plan for building the world’s biggest exchange operator.
    Tue, 10 Jan 2012 20:22:34 -0800

  • Technology From Berkeley Lab Is First To Solve Ventilation Problems Plaguing Commercial Buildings
    Aerosol-based Duct Sealing Application Used To Improve Poor Ventilation Issues / Reduce Operating Costs For High-Rises, Public Buildings & Commercial PropertiesCenterville, OH (PRWEB) February 02, 2012 A duct sealing technology developed at Lawrence Berkeley National Laboratory is the first viable solution to chronic ventilation problems plaguing hundreds of thousands of commercial buildings ...
    Thu, 02 Feb 2012 00:07:45 -0800

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