That's incorrect. You must have at least two partners to have a partnership, but not a LLC. Single member LLCs are very common. SMLLC's are great because they are disregarded for income tax purposes so a separate tax return is not needed. All activity from the SMLLC is reported on your individual income tax return.

I am hoping that is the case as I have several single member LLC's. You just have to be careful as not to co-mingle money or they may look at them as one, nullifying some of the benefit.

It most definitely is the case. I spoke with two clients today alone about SMLLC's. I am not an attorney so I will not speak to the legal issues, however, comingling funds is generally not advised.

I have a SMLLC and have been audited by the IRS. No issues were brought up about SMLLC.

I went to a supercar shoot out a few months ago and a Lamborghini there had Montana tags.....which I thought was odd in Florida. Yesterday I saw a new Range Rover Autobiography Edition with Montana tags so there must be something to the trend!

I also saw somewhere online that once a car is 10 years old you can get permanent tags, pay one fee and the tags are good for as long as you own the vehicle. Also note to get the tags neither you or the car actually have to travel to Montana!

I work in the mortgage business and there's nothing I enjoy more then when self-employed people call to try and get a mortgage and they show no income and I have to tell them they are S.O.L! . Most of them ***** and complain that its not fair the government this the government that and they have to cheat on their taxes to make any money.I dont feel bad one bit, I pay my fair share. Theyre not all like this but most are. i have lots of respect for someone who starts their own business but pay your fair share...

Dagah2x.... I pay way more than my fair share. I think 40% tax bracket is a little crazy. Also, considering I seem to find a boat and only keep it a year or so I think it's absolutely crazy that I would need to pay anywhere from 10-20k in taxes. But, if I trade to a dealer for another boat I can offset it buy trade in. WTF?

Considering this great nation is currently divided and only getting worse everyday by lazy a$$ people that want everything for nothing has turned me to be greedy . You just keep paying your fair share to help all those losers and I will do what I can to protect mine from the losers. As long as these idiots in charge are spending out of control it's a lost cause.

Self employed people call you and you enjoy not being able to help them? How about this....FU for not having the balls to own the mortgage business....you don't have a clue....you don't know what fair share is...you can respond back when you put everything on the line to start your own business.

Tombone, I totally agree with you money is all green at the end of day. If, I was in the mortgage business I would not give 2 chits where the persons money was coming from if I only get paid to close deals. I would say he might be on a wic card or some government assistance with this comment?. Just sayin !

[QUOTE=NORTECH-ANGLER;4184212]Tombone, I totally agree with you money is all green at the end of day. If, I was in the mortgage business I would not give 2 chits where the persons money was coming from if I only get paid to close deals. I would say he might be on a wic card or some government assistance with this comment?. Just sayin ![/

Goverment assistance .....he can't take a piss without the goverment approving it...I can't believe he had the balls to post such a ignorant comment. Wow look at me I give mortgage loans....how about this it's not your money and you didn't write the rules...you are nothing but a over paid pencil pusher. That fact you have enjoyment on not being able to make a commission on a loan is crazy....by far one of the dumbest comments I have seen on OSO....