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Updated about 17 years ago,

User Stats

19
Posts
1
Votes
Mark Harry
1
Votes |
19
Posts

llc operating as sole proprietorship or partnership ???

Mark Harry
Posted

I am thinking of weather operating my llc that I am about to form as owned by just me or include my wife as partner. Which one would be more rewarding for tax purposes.

What I know so far is if I am the only member I would file taxes for the llc under my name. And if it is in partnership then the llc has its own taxes. Does that differ if the two members are spouses (since my wife and I already do file taxes together)

Another question regarding the mortgages, how would sole proprietorship and partnership differ when it comes to applying for mortgage. (the llc is new so it doesn't have credit history or assets)

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