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Updated 2 months ago, 09/13/2024
Entity Classification Election
So I just created an LLC and it was formed with the State about a week ago so I have a little under 70 days left to decide which tax classification I would like to elect before it is defaulted as a disregarded entity, for a single owner.
What do you suggest is the best entity classification to choose from for a new, up-in-coming business owner to get the best balance between liability protection and tax advantages?