Q: New LLC, what tax classification is best for a single owner?
New LLC in Texas and I need to select a tax classification. Single owner.
A:
It depends on the type of business. If it is investment related, there is a good chance you would
Like to just be a sole proprietorship. However, if it is an active business with ordinary income, it is best to be an S-Corporation. This way you can control the self employment tax with it. There are a lot of variables that go in to the designation, I would love to help if you reach out to me.
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