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    Thank you. This was my assumption, I just wanted...

    Only the taxable income is ever taxed (revenues minus deductible expenses). In your example, the taxable income would be $168,000.



    Assuming your girlfriend does not elect to have the LLC...
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    How exactly does taxation of an LLC work?

    Hello! Without going into too much detail I will try to give a quick rundown of the scenario I am in (or rather my significant other) to better explain the questions I have. My longtime girlfriends...
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