Single Member LLC

A Single-Member LLC is an LLC with just one owner. It provides the same limited liability protection as a multi-member LLC, meaning the owner’s personal assets are generally protected from business debts and lawsuits. For tax purposes, the IRS automatically treats a single-member LLC as a “disregarded entity.” This means income and expenses are reported on the owner’s personal tax return. Many freelancers and small business owners choose this structure for its simplicity and liability protection.