California corp.

Single entity LLC's (one director, me) are treated *exactly* like sole
proprietorships by the IRS. However, they are still afforded the same legal
protections as a C-Corporation. It *used* to be that LLC's were treated as
partnerships, or the LLC could elect to be treated as a C-Corp for tax
purposes. Those regulations changed a few years ago.

I file a 1040, along with a Schedule C (profit/loss from business) just as
any other sole proprietorship would.

Just a side note, all of my income is produced through my LLC, so it's not
just a holding company for an aircraft. I know some people set them up that
way, but just wanted to point out that mine is not setup that way.

r.

"Tony Cox" wrote in message
hlink.net...
"Rob Thomas" wrote in message
...
Absolutely.

The $800 goes directly on Schedule C of my personal tax return. My LLC
is
treated as a sole-proprietership by California because I'm the only
member.
So, I get the legal protection of a C-Corp and the paperwork ease of a
sole-proprietership.

r.


How does that work exactly? I'm not familiar with LLC's, except
that from what I remember you can opt to have them treated as
either partnerships or corporations for tax purposes.

I don't understand how you can pass the $800 back to your individual
return unless you're treated as an S-corp for tax purposes.