It's nicer than tacking late fees on to someone who already is disregarding the 1st anyways...

An LLC is a disregarded as far as the IRS is concerned.

To clarify, the only LLC requiring a C and SE form is a single member LLC that accepts the default tax status, and, operates an active income business.A residential rental activity is a passive income business and the disregarded entity LLC would still put all the LLC income and expenses on Schedule E (not C and SE).

So you are allowed to tell IRS how you want to tax the LLC: as a disregarded entity, partnership, C-corp or S-corp, depending on circumstances.So really the choice is not "LLC or S-corp" but...First, do I want an LLC or a regular corporation?

This whole process can be two years long, and that's another major issue.Of course, all of this completely disregards monetary policy, which is equally important, if not moreso given the power of the Fed today and the relative gridlock thanks to partisan politics and general idiocy within the legislature.I would say that it's just my two cents, but I wrote enough to say about $12 trillion worth.

Disregarding the source of the linked document, it is actually a CitiGroup pdf and a very interesting read about being rich, wealth, etc - the argument being it is not simply hard work creating your own luck, it is also hard work attached with intelligence and creative implementation of that hard work that is the new paradigm.

It seems that solution would provide both liability protection and keep profits off my personal return.A land trust is some cases are disregarded entities so will still need to pick up income in tax return.

Disregard the last paragragh, I copied the email I sent to my CPA

If your LLC is a single member LLC being treated as a disregarded entity, then the LLC does not file a federal income tax return, and no federal tax ID is required.

Isn't it amazing that people (like you, myself, and some others) simply post some ideas, that might help another investor, while keeping in mind that:a) we have not tried to sell anything or ask for anything in return,b) we know that every individual has the right and ability to disregard a posting if they feel it is not beneficial to their personal situation or style ....and yet there are always some people that would rather spend (waste) their time trying poke holes in other people's credibility or take away value from the good intentions of this website, rather than just focus on something positive?