Unleash the Power of Pass-Through LLCs A Tax-Saving Blueprint

S corporations (S corps). The IRS explains that S corps are pass-through entities because they “pass corporate income, losses, deductions, and ... ... pass through” to the owners to report on their personal tax returns. ... If your LLC has multiple owners, the IRS treats you as a partnership. When a member joins or leaves an LLC, some states may require the LLC ... Nonprofits must file with the IRS to get tax exemption, a ... S corporations are corporations that elect to pass corporate income, losses, deductions, and credits through to their shareholders for federal tax purposes. ... LLC and S-corporation owners. Failure to Pay Entity-Level Tax. While pass-through entities are generally not liable for tax at the entity ... In the case of the multiple-member LLCs, the entity does file a tax return for informational purposes only – there is no tax to be paid. Then the IRS issues a K ... ... Internal Revenue Service (“IRS”) in its continuing efforts to focus on high-wealth individuals. With the exponential increase in the number ... An LLC is generally taxed as a pass-through entity by default, but you ... Most states tax LLC profits the same way the IRS does: The LLC members pay ... ... pass-through taxation. Still, it's important to note that ... In most cases, a single-member LLC is considered a disregarded entity by the IRS by default. To become an S Corp, the corporation must then file what is known as an “S Election”—Form 2553—with the Internal Revenue Service (“IRS”). ... While LLCs are often ...