How are LLCs taxed? LLC tax benefits and tips to reduce taxes
ThomsonReuters
FEBRUARY 8, 2024
Now, if an LLC has employees in addition to its members, or owners, the LLC must collect and pay payroll taxes, which include unemployment, Medicare, and Social Security taxes — also known as FICA taxes (i.e., Federal Insurance Contributions Act), or “self-employment” tax. It’s also surprisingly affordable.
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