pk
Level 15
Level 15

Business & farm

@RyanCScott ,   having gone through most of this thread, I would just like to point out  that 

(a) a single member LLC is by default treated as a dis-regarded entity i.e.  it has no existence separate from the owner -- therefore you use  your own SSN and schedule-C for filing a return.   However  a single member LLC can  choose to be treated as a C-Corp or S-corp   -- but you have take the extra step to  request that treatment.

(b) EIN for an LLC  is a different matter -- it has to do with whether you have employees --- it is Employer Identification Number ---  it is used for  depositing the employee  withholdings etc., even in the case of  a dis-regarded entity.  It is not directly connected to whether you are a disregarded entity or an entity.

(c) I totally support the thought process that when you start your business  and/or at major changes , you should consider discussing / accounting methods / your  options/ plans etc.  with a tax professional or a tax attorney  and structure your book-keeping and entity characteristics correct.

 

 Hope this  helps  

 

pk