Good evening. Actually, you are better of as a single-member LLC. As a single member LLC, you have all the advantages of any limited liability entity, but you can report your LLC's operations on Schedule C of your Form 1040 and do not have to go to the expense of preparing a separate tax return for your entity. An LLC does not elect S Corporation status....an LLC is already taxed as a partnership...meaning it is a flow through entity; rather a S Corporation election is made by a corporation so it can also be taxed as a partnership.
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