Hi There:
See initial post for an excellent reply. For an LLC reply, please not that the LLC itself is a conduit to your personal tax return, so the LLC itself does not affect taxes. The purpose of the LLC in legal theory, is that, if the LLC is operated correctly, then it should be considered separate from personal property, and therefore immune from personal liability such as an auto accident. Also at Turbo Tax- legal advice is outside our scope of service, so I highly recommend you contact an attorney for LLC advice. Good luck.
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