Opening a LLC

[Dawie]

You can file a 1065 return as a single member, yes.

-1000
a Married couple can file either, a single person can't file a 1065
 as a single member, the only thing you can do is elect to be an S Corp and file a 1120s

Supposedly yes. I personally know accountant’s who all the time recommend doing a 99.9/1 partnership to avoid using a schedule c

99/1 usually
the .1 or .01 not recommended

[cgr]

-1000
a Married couple can file either, a single person can't file a 1065
 as a single member, the only thing you can do is elect to be an S Corp and file a 1120s 99/1 usually
the .1 or .01 not recommended

I know it doesn't seem intuitive as a 1065 is a partnership return, but you can definitely file a 1065 as a sole member- a 1065 can have just one K1 with 100% ownership attributed to the one "partner".

[Dawie]

I know it doesn't seem intuitive as a 1065 is a partnership return, but you can definitely file a 1065 as a sole member- a 1065 can have just one K1 with 100% ownership attributed to the one "partner".

you cant efile a 1065 with one partner, it will be automatically rejected
you can "get around it" by making a second SMLLC and partnering with yourself
and even that you cant really do anymore because of the new rules regarding disregarded entity reporting on k1's

[DealJew]

if your business doesn't make money after a few years the IRS can flag it as a hobby and not a viable business


https://www.irs.gov/newsroom/earning-side-income-is-it-a-hobby-or-a-business

Why would they flag it? For avoiding sales taxes?

[ushdadude]

Why would they flag it? For avoiding sales taxes?

for deducting business expenses for something that is not a real business 

[DealJew]

for deducting business expenses for something that is not a real business

Would they flag a LLC thats earning under 10k? (not enough to file taxes)

[WAM]

Publishing when you open the LLC is a must

Afaik, LLC publishing is only a thing in NY, NE and AZ (outside of Maricopa and Pima counties).