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lemmyman , 4 hours ago Yes there is a difference, but LLC is a legal concept, not a tax one. The IRS taxes sole proprietors the same whether or not they have an LLC. Tax entities include sole proprietorship (default), partnerships, s corps, c corps. Any of those can be LLCs, but they don’t have to.
Yes there is a difference, but LLC is a legal concept, not a tax one. The IRS taxes sole proprietors the same whether or not they have an LLC.
Tax entities include sole proprietorship (default), partnerships, s corps, c corps. Any of those can be LLCs, but they don’t have to.