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Updated over 4 years ago,
Tax Time... Is it harder with SLLC vs. an LLC ?
So I made the decision to do an LLC already.
I want to protect my families home and assets and it’s likely just the best option for me.
So now I have a decision to make... LLC or SLLC...
I understand the benefits of LLC (limited protections and tax pass through). I also understand the the SLLC allows for higher levels of anonymity and a "sub" company for every property...
My question is relates to tax time. Assuming I am blessed enough to make it to 10 properties and 10 sub-companies, how does one handle the taxes?
Can I still do a married filing jointly tax return and include the finances of all 10 companies?
Thank you all, I appreciate the lesson...
Ian