Single-member LLC

A Single-Member LLC (Limited Liability Company) is a type of business structure that has one owner. It combines aspects of a corporation and a sole proprietorship, providing personal liability protection, meaning your personal assets are generally shielded from business debts and lawsuits. This structure allows for flexible management and pass-through taxation, where profits are reported on the owner's personal tax return, avoiding corporate taxes. It's a popular choice for small business owners due to its simplicity and protection.