Tax Time... Is it harder with SLLC vs. an LLC ?

[Ian Sinclair]

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

[Chris Seveney]

@Ian Sinclair

What is a sllc?

Also LLC's are pass thru entities and provide no tax benefit and are for asset protection.