I and my wife are planning to start import export business from our home. Once in a while, my wife also does some work for a small company for which my wife receives 1099. Is LLC a good option for us? Where should I start?

UNLESS you and your spouse live in one of the community pty states(if you set up your biz as a non-LLC in a community pty state, then you may qualify as qualified joint venture; both spouses file a separate Sch C, showing that person's share of the income, deductions, and any profits/losses.both spouses also file a separate Sch SE, showing that person's self-employment income.) , you must file return for the LLC as a partnership(MMLLC) unless you convert it(the LLC) to an S or C corp.Or to avoid filing form 1065 as a partnership, you need to hire your spouse as an EE and issue her a W2 as a SMLLC, NOT as a MMLLC, then as a sole owner yu can file Sch C/SE.So I guess it is not so easy to tell you if an LLC is a good option for you as it depends; as mentioned above, unless you set it up as a qualified joint venture(aslongas you live in a community pty state) or a SMLLC(disregarded sole entity), you must file your return as a Partnership(you ned to fie form 1065); Generally, a business entity with two or more members is classified for federal tax purposes as either a corporation or a partnership. That general rule applies equally even if the two members are husband and wife. Since the default rule for multi-members LLCs is that the LLC is treated as a partnership, an LLC composed solely of a husband and wife will be a partnership for tax purposes unless the members choose to have it elect to be treated as a corporation or SMLLC as mentioned above.if you set it up as a MMLLC, a PS , I mean, then, There are distinct partnership advantages and disadvantages. Sole proprietorship, partnership(I mean MMLLC) and S Corp are all "flow through" entities so that generally there is no double taxation for federal tax purposes, but instead all profits or losses pass through to the owner's personal tax returns. State taxation varies based on what state the business and its owners are located in.There is also liability protection an LLC offers which you don't typically have with a sole proprietorship, a SMLLC, I mean. if liability is a concern with your business I suggest you talk to a tax attorney for more accurate info .however if you set up your biz as MMLLC as mentioned above, then you do not need to file complex form 1065, partnership return.SMLLC is the easiest form to use. This is similar to a sole proprietorship, and it makes tax reporting much simpler. You complete Sch C/SE on your federal return, which records the profits and costs of your business operation. Along with easing your reporting requirements, you may also save on tax preparation costs since you don't need a separate filing. While single-member LLC,SMLLC, offers more liability protection than sole proprietorships, they do have more risk than multiple-member LLC, pertnership. In some cases, courts have held single-member LLC owners liable if their negligence has led to damages to others. Similarly, courts have also allowed creditors to go after personal assets in some cases where the business has a debt burden. In my opinion even if you set it up as an SMLLC, then when it becomes larger then you may convert it as MMLLC or an S corp or etc later