In today's financial landscape, the choice of business structure holds significant weight, particularly concerning taxation. Among the array of options, Limited Liability Companies (LLCs) stand out for their flexibility and advantageous tax treatment. Let's delve into the key points highlighting the benefits of LLC ownership.

Individuals who own 25% or more of a limited liability company, partnership, or other small entity that owns real estate or runs a small business, or who have substantial control over any company, will be required to register in a new federal database beginning in 2024.