As an investigative journalist, I’ve come across a statistic that may surprise you: over 35% of small businesses in the United States are structured as Limited Liability Companies (LLCs). This intriguing number raises an important question: what is the true tax burden faced by these LLCs? In this article, we will delve into the hidden costs that LLCs may encounter when it comes to taxation. From overlooked deductions to state-specific considerations, we will navigate the complexities of LLC tax filing and reporting, shedding light on the potential financial implications for business owners. So, let’s uncover the hidden costs and reveal the true tax burden on LLCs.
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