LLC Tax Loopholes

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Here is information on the legit LLC tax loopholes.

 

Background on LLC Tax Deductions

Before we discuss LLC tax loopholes I would like to note that limited companies are my preferred company structure.

The limited liability company is the strongest asset protection designed for your company replacing the subchapter S corporation.

The limited liability company offers limited liability to the owners of a business and, additionally, the limited liability company is approved in all 50 states.

The Limited liability company is comparable to a company and sometimes referred to as a private limited company.

In the limited liability company, the people are called members.

And the limited liability company is most advantageous to smaller companies with a smaller number of members.

In cases where the limited liability company has only one member, the limited liability company can be regarded as a disregarded entity whereby the sole member is seen as the entity performing the operations.

This contrasts a LLC corporation owned by a single individual whereby the corporation is viewed as the entity performing the operations.

The limited liability company with multiple members avoids double taxation since the members are partners for taxation purposes.

 

LLC Taxes

The Internal revenue service Form 1065 and Schedule SE are used with the limited liability company entity.

For tax purposes, the limited liability company in a partnership formation reports its income and deductions via each members income tax return.

Why Choose Limited liability company For Asset Protection?

Courts and clever predators with their contingent fee lawyers have greatly eroded the advantages and protection of corporate entities, allowing for little or no asset protection against employees, shareholders, officers, or directors.

The limited liability company became the entity of choice for all new business structures.

The sub chapter S corporation has now become the white elephant.

 

LLC Tax Loopholes – Financial Benefits

There is a significant financial benefit to establishing a limited liability company for your company.

Your predatory creditor’s sole remedy is the debit order.

The charging order is obtained subsequent to your lender obtaining a sentence against you for monetary damages along with other frivolous charges.

Your lender can’t, and is precluded by law, to enter in your shoes as a limited liability company member and take over the financial affairs.

This is, in and by itself, the limited liability company’s most significant financial benefit.

In all cases, after you plead with your lender, do NOT place a charging order against me because it will have the most detrimental effect on how I deal with my existing clients, banks along with other businesses, your lender will have to get payments via the LLC.

What you lender doesn’t realize is that he just gave you a major gift.

Thanks in large part to the drafters of the Uniform Limited Partnership Act.

The charging order implies that your lender has a right to all of your capital distributions.

So when will you’ve a capital distribution to pay your lender?

The answer is that depends on your decision.

At this point, speak to a tax professional for more intricate advise and calculations.

Are you interested to learn more?

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