Scott, I actually have a couple of questions I've been meaning to call you about, but since you asked here on BP, I thought I would ask my questions here in the hopes of helping out others with the same questions.1 - Single Member LLC's are considered disregarded entities by the IRS.

He said it would just be taxed as personal income and something about a pass though since it will be taxed as a "disregarded entity or sole prop"?

California, the IRS allows you to treat an LLC owned by husband and wife as a disregarded entity.

I ran a commercial rental real estate engagement that comprisd of 156 consolidated companies (not including the disregarded SMLLCs) and was on the workflow efficiency team to create standardized Excel workbooks for Residential Real Estate Partnerships for all of the offices of the firm to utilize when preparing partnership returns.

A single-owner LLC is usually ignored for tax purposes, known in technical terms as "disregarded entity."

But, as you can see above, the Traditional LLC removes a lot of the risk with yourself as the "middle-man" in the process.The Series LLC and Traditional LLC are both considered a disregarded (pass-through) entities.

Unless elected otherwise, it would be a disregarded entity and all the income would flow through your tax return like it does without an LLC.

I mean you say there’s bad information right after you say an LLC does nothing for tax consequences even though it allows me to form a single member LLC disregarded then file an 8832 to create a C Corporation after which I could file a 3552 to create an S Corporation.I couldn’t do that as easy with other entities.It also gives me liability protection while allowing for participation in management which is generally hard for limited partners without tax consequences.It definitely does something for self employment tax vs a GP.By default LLC loans are non-recourse which changes the tax basis under 465.Also LLCs don’t fall under 469 passive limitations of limited partners simply because Subchapter K was written before LLCs.Also LLCs in community property can be disregarded if owned by spouses and certain conditions are met.

I was wondering if this can be a disregarded entity since we are married and file jointly.

Yes, I understand the word 'reasonable' is a matter of interpretation and this is why we have a court system so you can disregard the word and just tell us how many of the claims made are approved and how many of the claims made are denied.