Level 12
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Investing

Your question is a good one but more of a legal one best answered by an attorney.

 

There may be some asset protection advantages to an LLC in the event that you ever get sued.

 

As for taxes, the IRS, considers an LLC to be a “disregarded entity” meaning that you and the LLC are one in the same. As a result, you will prepare your tax return just as you would without the LLC designation.