Forming an LLC

[leaves716]

Hi all,
Quick question regarding tax benefit of having an LLC. I am thinking of forming an LLC and being the sole owner and employee. I contract with several clients doing web services consulting. If I form the LLC this month, in July, do the tax benefits apply retroactively to money I have earned earlier this year, or only what will be earned afterwards? Also, do income checks have to be made out to the LLC, or can they be made to me?
Thank you,
Sepehr

[solomon]

If this is treated as a disregarded entity, for practical purposes you are a sole proprietor which will file Sch C. Should that sentence not be clear to you, see your tax professional.

[Bees Knees]

This message board is for those who purchase the products from the sponsors of this message board. There is a chapter in TheTaxBook that explains the tax rules on LLCs. Buy the book, or hire a tax professional to explain the rules to you. Members on this message board have been asked by the board sponsors not to answer questions from do-it-yourselfers. If you need assistance seeking help, click on the following link to search for an EA in your area who can help you.

https://portal.naeacentral.org/webportal/buyersguide/professionalsearch.aspx?Token=