A few additional comments:
- Based on your initial question(s), I believe you should seek some tax advice as to the best entity structure for your needs and goals. Don't be penny wise and pound foolish here as it can cost you significantly more down the road.
- Based on your limited facts, the default entity structure is the LLC will be taxed as a partnership.
- You can make an election to change that structure, but I recommend you get help so you understand the differences.
- You don't indicate whether or not the business has actually "started business". This is key in determining when you will have a return filing requirement.
- When you can deduct your current expenses, depends on whether the business has actually started, or whether the expenses need to be capitalized and then deducted as either start-up expenses or organizational expenses. A tax professional can help in this area as well.
*A reminder that posts in a forum such as this do not constitute tax advice.
Also keep in mind the date of replies, as tax law changes.
