Is an LLC an S-Corp?

What is the difference between an LLC and an S-Corp? The question itself is a bad question. Because an LLC can be taxed multiple different ways. The real question is LLC (taxed in default status) vs LLC (taxed like an S-Corp). This guide will explain why your LLC isn’t an S-Corp as well as how your LLC will be taxed by the IRS.

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9 Community Property States for a Husband and Wife LLC

Husband and wife LLCs are taxed differently depending on whether they are in community property states. Those in community property states may elect to be taxed as a Qualified Joint Venture LLC. This allows spouses to form a Single-Member LLC as co-owners instead of a Multi-Member LLC. It also allows them to file their LLC taxes as a Sole Proprietorship instead of as a Partnership.

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