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Individuals who are sole proprietors or who have formed single member LLCs report business income...

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Accounting

Individuals who are sole proprietors or who have formed single member LLCs report business income on Schedule C of Form 1040. Please use the IRS website as your source of research and provide us with information as to why sole proprietors would benefit from organizing their businesses as single member LLCs. Please let us know if there are any disadvantages to this form of business organization.

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