The Limited Liability Company (LLC)
01.What is an LLC?
An LLC is a hybrid structure that provides the liability protection of a corporation combined with the tax simplicity of a partnership or sole proprietorship.
02.Asset Protection
The primary benefit of an LLC is that it shields your personal assets from business liabilities. In most cases, members are only liable up to the amount they invested in the company.
03.Flexible Pass-Through Taxation
By default, the IRS taxes a single-member LLC as a sole proprietorship, and a multi-member LLC as a partnership. Profits pass directly to members' personal tax returns, avoiding double taxation.