LLCs themselves don't receive refunds because they're pass-through entities. However, LLC owners can receive refunds on their personal tax returns if estimated payments and withholdings exceed their total tax liability, including self-employment tax.

By default, single-member LLCs are taxed as sole proprietorships (Schedule C), and multi-member LLCs as partnerships (Form 1065). Income passes through to owners who pay income tax plus self-employment tax (15.3%). LLCs can elect S-Corp or C-Corp taxation.

The Section 199A Qualified Business Income deduction allows eligible LLC owners to deduct up to 20% of their qualified business income. Phase-outs apply for specified service businesses when taxable income exceeds $182,100 (single) or $364,200 (married filing jointly) in 2024.

Strategies include: electing S-Corp status (pay yourself reasonable salary, distributions avoid SE tax), maximizing business deductions, contributing to SEP-IRA or Solo 401(k), and deducting health insurance premiums. Consult a tax professional for your situation.

Quarterly estimated payments are due: Q1 (April 15), Q2 (June 15), Q3 (September 15), Q4 (January 15 of following year). Use Form 1040-ES and pay via EFTPS or IRS Direct Pay.

Yes, LLC losses generally pass through and can offset other income, subject to at-risk rules, passive activity limitations, and excess business loss limitations ($289,000 single / $578,000 MFJ for 2024). Unused losses may carry forward.

The SE tax rate is 15.3%: 12.4% for Social Security (on income up to $168,600 in 2024) and 2.9% for Medicare (no cap). An additional 0.9% Medicare surtax applies to income over $200,000 (single) or $250,000 (MFJ).

S-Corp election can save SE tax if your LLC profits exceed $40,000-$50,000 annually. You must pay yourself a "reasonable salary" subject to payroll taxes, but distributions above salary avoid SE tax. Consider costs of payroll administration. File Form 2553 by March 15.

LLC owners can contribute to: SEP-IRA (up to 25% of net SE income, max $69,000 for 2024), Solo 401(k) (up to $69,000 + $7,500 catch-up if 50+), SIMPLE IRA ($16,000 employee + 3% match). Contributions reduce taxable income.

Multi-member LLCs file Form 1065 (Partnership Return) by March 15. Each member receives Schedule K-1 showing their share of income/losses. Members report K-1 amounts on personal returns and pay SE tax on their share of ordinary business income.