Should you operate your business as a corporation, proprietorship, or single-member LLC?

As you know from last month’s article titled “How to Find Your Best Tax-Deduction Business Entity,” you are reading the second in a series of articles to help you with this difficult choice-of-entity question.

In this article, we explore the advantages and disadvantages of the single-member LLC.

What Is a Single-Member LLC?

The single-member LLC provides corporate-level liability protection for the business owner along with taxation as a sole proprietorship.

The LLC, like the corporation, is formed at the state level. Thus, state law makes the rules and can create the tipping point between making the LLC your choice of entity ... Log in to view full article.