benefits of husband and wife in llc
Limited Liability Company. You and your spouse may operate a personal business as an LLC. This type of business structure is authorized and regulated by the individual states, but is not recognized by the IRS as an entity for federal income tax purposes.
You and your spouse may treat your LLC as a partnership. You will file the LLC's federal income tax return using IRS Form 1065, U.S. Return of Partnership Income. You and your spouse must each report your individual shares of the income generated by the partnership income.