@KrisD15 We actually didn't originally set out to run as a qualified joint venture. However, in reading over the rules on LLC formation we ran across the provisions for couples living in community property states (such as Texas where we live) to allow them to run their multi-member LLC as a sole-member LLC as long as the rules about LLC ownership and material participation were met. The ultimate benefit for us is that we can continue to enjoy the "benefits" of the LLC (certain legal separations from our business assets) without the hassle of splitting up all of the tax information and have to file as a partnership.
