When you are filing taxes for your LLC, you need to find out about the IRS’s LLC taxation guidelines. If you neglect to find out this information, your taxes can get rather complicated. Many people are under the impression that there are numerous LLC taxation benefits, which is why they opt to form an LLC over other business structures. What these people do not realize is that there are no benefits of LLC taxation because an LLC is not a recognized business structure for federal tax purposes. Single member LLC taxation provides the best tax benefits because of pass-through taxes. Instead of claiming the LLC money separately, as a corporation would a single member LLC claims the profit or loss on a Schedule C with their own personal income taxes.