All answers on TaxGuided are community-contributed and for educational purposes only. This is not professional tax, legal, or accounting advice. Always consult a qualified professional for your specific situation.
How does LLC taxation actually work? Does the LLC pay taxes or do I pay taxes personally?
I just formed a multi-member LLC with my business partner and we're confused about how taxes work. Our accountant mentioned 'pass-through taxation' but I don't fully understand. Does our LLC file its own tax return? Do we each file separately? Can someone explain LLC taxes in simple terms?
Related Questions
Starting my first online business — should I go with sole proprietorship or single-member LLC?
I'm a freelance web developer based in Germany and I want to start selling SaaS products to US customers. I'm trying to figure out the simplest business structure. A sole proprietorship seems easiest but I keep reading that an LLC is better. What are the actual differences in terms of taxes and liability? I don't want to overcomplicate things if I'm just getting started.
What is the difference between a general partnership and limited partnership for taxes?
My cousin and I are starting a real estate investment project and we're debating between a general partnership and a limited partnership. I know the liability is different, but how does the taxation work? Does a GP and LP pay different taxes? We want to minimize our tax burden and protect our assets.
C Corp vs S Corp — which one avoids double taxation and can a foreign owner use either?
I've been reading about corporations and I'm confused about the difference between C corps and S corps. Everyone says S corps avoid double taxation but I'm a foreign national (Indian citizen). Can I use an S corp for my US business? Or am I stuck with the C corp double taxation?
Have a similar question?
ForeignLLCTax members get expert answers with IRS citations. One CPA consultation costs $200+. Full access is $9.99/month.
Become a Member — $9.99/moDisclaimer: All content on ForeignLLCTax.com is created by a tax professional and is provided for general educational and informational purposes only. It does not constitute tax, legal, or accounting advice, and should not be relied upon as such. Every tax situation is different — for advice specific to your circumstances, please consult a licensed CPA, Enrolled Agent, or tax attorney. By using this website, purchasing a subscription, or accessing any tools or services, you acknowledge that no client-professional relationship is established between you and ForeignLLCTax.com or its operators. This website is not affiliated with the IRS.