https://ttlc.intuit.com/community/self-employed-group/discussion/llc-questions/01/2368056#M3424 <P>I currently have a single member LLC for my insurance agency . This year, my wife and I started another LLC business that does estate sales. Would it be better for her to be a single member LLC for tax purposes on the second business and remove me or is it more advantageous for us to be partners in this LLC?</P> Wed, 27 Oct 2021 16:10:20 GMT URCOVRD 2021-10-27T16:10:20Z https://ttlc.intuit.com/community/self-employed-group/discussion/llc-questions/01/2368056#M3424 <P>I currently have a single member LLC for my insurance agency . This year, my wife and I started another LLC business that does estate sales. Would it be better for her to be a single member LLC for tax purposes on the second business and remove me or is it more advantageous for us to be partners in this LLC?</P> Wed, 27 Oct 2021 16:10:20 GMT https://ttlc.intuit.com/community/self-employed-group/discussion/llc-questions/01/2368056#M3424 URCOVRD 2021-10-27T16:10:20Z https://ttlc.intuit.com/community/self-employed-group/discussion/re-llc-questions/01/2368075#M3425 <P>The answer to your question is dependent upon several factors.</P> <P>&nbsp;</P> <P>One of which to keep in mind is that, unless you and your wife hold your interests in the LLC as community property in a community property state, you will have to file a partnership return (Form 1065) for the LLC which adds more complexity to your tax situation.&nbsp;</P> Wed, 27 Oct 2021 16:13:38 GMT https://ttlc.intuit.com/community/self-employed-group/discussion/re-llc-questions/01/2368075#M3425 Anonymous_ 2021-10-27T16:13:38Z