LLC - Disregarded entity or requires own filing?

[James Masotti]

Brandon Hall, Amanda Han, @Jim Kennedy and any other real estate CPA's out there who would like to chime in.

I had always done my taxes myself with TurboTax. Last year I decided to use an accountant who has a sizeable real estate business since I plan on growing my business quite a bit over the next year or two and figured things will start to get a bit more complicated. Last year I waited far to long to do my taxes so I didn't really have a chance to question it when he said I need to file separate returns for my wife and I, and our two LLCs because disregarded entities only count for single member LLCs and since both my wife and I were on the LLC they were not single member.

For my attorney friends out there @Jessica Zolotorofe is there additional legal protections if I file the LLC separately rather than as a disregarded entity? It's worth it to me to pay the extra preparation and filing costs if there is.

Any chance you guys can weigh in on this? I'm starting to pull things together for this years taxes and get this done earlier this year than last year and am curious about this.

Thanks!