Kiritsis & Associates
Single member LLCs are arguably, one (if not the most) favored entity for tax purposes.
1. Flexible tax treatment. A single member LLC is generally treated as disregarded entity for federal income tax purposes, which means it receives pass through tax treatment. But, it can also elect to be taxed as a Corp. In addition, single member LLCs upon meeting certain circumstances, as well as, the jurisdiction of their formation, could transition to choosing S Corp tax election.
2. Eligible for 20% income deduction. Despite having just 1 owner, single member LLCs are still eligible to receive the new tax law break of the 20% income deduction, if the meet certain criteria.
3. Members could be non-resident aliens. This is in sharp contrast to S Corps, where nonresident aliens, are not allowed to own S Corp stock. Nonresident aliens, at least per federal tax laws, could be partially or fully owners of single member LLCs.
Law Offices of Kiritsis & Associates
Phone # 212 922 0005
Manhattan Office (Main Office):
633 Third Avenue
New York, NY 10017
Brooklyn Office (By Appointment Only):
1023 74th Street
Brooklyn, NY 11228
New Jersey Office:
7309 Ventnor Avenue
Ventnor, NJ 08406
ATTORNEY ADVERTISING. PRIOR RESULTS DO NOT GUARANTEE A SIMILAR OUTCOME.
We hope you would find this website useful with regards to finding potentially relevant information for your legal issue. The Law Offices of Kiritsis & Associates PLLC is a boutique law Firm Group headquartered in Midtown Manhattan, with offices in Manhattan, Brooklyn (NY) and New Jersey. We strive to provide professional legal services for individuals and various business entities. Our clientele ranges from including aspiring entrepreneurs, startups to established business organizations.
We offer flat fee prices for many of the practice areas provided listed throughout our website. For more information on the topic you may be interested, or simply to find out how our law Firm Group can help, you may click at any of our site's links.
We are available for existing and potentially new clients 7 days a week -- via online, phone and/or in person.
Intellectual Property Disclaimer(s):
The materials available through this website and any other websites owned by John Kiritsis (individually and collectively, the "Website") are the property of John Kiritsis and his entities, and are protected by copyright, trademark and other intellectual property laws. You may not use, reproduce, download, store, post, broadcast, transmit, modify, sell or make available to the public content from the Website without the prior written approval of John Kiritsis. Be aware that any unauthorized use of John Kiritsis trademarks and copyrighted content for commercial purposes in violation of John Kiritsis's intellectual property rights will be vigorously enforced. All other trademarks, service marks and trade names referenced in this site are the property of John Kiritsis.