Episode
Enrolled Agent Exam [Part 2] 14, Single-Member LLC — Disregarded Entity Rules
- Podcast
- Finance Exam Prep
- Published
- May 11, 2026
- Duration seconds
- 162
- Processing state
not_requested- Canonical source
- https://open-exam-prep.com/
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Summary
This podcast is made by Ran Chen, who holds an EA license, Insurance and Securities licenses (Series 6, 63, 65), and the CFP® designation. He is passionate about opening access to high-quality exam preparation resources and helping learners prepare more effectively for professional certification exams. In this episode you will learn: - A Single-Member LLC (SMLLC) is a disregarded entity for federal income tax purposes by default. - An SMLLC owned by an individual reports its business activities on the owner's personal tax return, typically using Schedule C. - When a corporation owns an SMLLC, the LLC's activities are treated as a branch or division on the corporation's tax return. - An SMLLC is regarded as a separate entity for employment tax purposes and must have its own EIN to file payroll tax returns like Form 941. - The EA exam frequently tests the exception: an SMLLC is disregarded for income tax but treated as a separate entity for employment and certain excise taxes. For more free exam prep tools, practice questions, and AI-powered explanations, visit https://open-exam-prep.com/ or YouTube Channel: https://www.youtube.com/@Open-exam-prep