Under current Kansas law, self employment income reported by a sole proprietor or pass through entity (LLC etc) is not subject to Kansas state income tax.  

If you are operating as a Sole Proprietor(Single member LLC - no corporate election) you will file Form Schedule C and report all income and expenses there.

So you don't have to worry about disclosing your SSN in doing these - but your sole proprietor contractors who haven't created a business entity will be giving you their SSN ...

Commercial loans can be personal (sole proprietor) or business entity loans.

Many people have business accounts that are simply sole proprietors, partnerships, etc.

You can have any type of business structure: sole-proprietor, LLC, corporation, partnership, etc.In fact, if you just started a business you are not required to generate profits to begin with, but you must have intentions for generating profits down the road and make at least occasional, substantial contributions to your Solo 401k plan to be in compliance. 

If the rental property is held by a sole proprietor LLC, Adam gets the same rental expense deductions on his tax return and the tax liability on his rental income is passed through to his personal tax return, unaffected by the presence or absence of an LLC.

IMO, it depends...If this is a single member/sole proprietor LLC then I would go ahead and set it up yourself.However, if you are forming this LLC with a partner then I would make sure to get a lawyer involved to create your Operating Agreement.Good luck!

I just want to put a note on here to clarify, When someone says LLC, they are note specifying the tax situation of the business.An LLC can be a:sole proprietor (all of his income is subject to SS and medicare up to the limits)Partnership: All passed through income is subject to SS and medicare unless limited partner who does not participateC-Corporation: corporation pays it own tax bill and S-Corporation Corporation must pay a reasonable Salary to officers(subject to SS and Medicare) and other income is passed through as ordinary income with no special treatment only subject to income taxBryan, Your dad will still receive his SS payments no matter what his income is.

If so you do NOT want it taxed as a corporation.here is some information.Are there any significant differences between a LLC taxed as a proprietor vs a LLC taxed as a S-corp?