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Single member LLC, Welcome
Who are you??. It is VERY hard to answer questions without a name and some info
Start with the IRS website - http://www.irs.gov/businesses/corporations/index.html - lots of information here to answer your questions.
Then hire a CPA as your situation may be different then everyone elses.
Business Money Today
A "normal" corporation, such as a C-corp or S-corp, exists as an independent, taxable entity.
One of the beauties of the LLC is that as far as revenue is concerned, its treated as a sole proprietorship (as in your case) or partnership. Any revenues your LLC earns, regardless of the amount, is taxed as personal income.
There's no need for you to file separate tax forms for the LLC, just report it as a part of your personal income tax return.
Fundamentals for Founders: The Practical Guide to Kick-Starting Your Business