Contract worker

[MrGoodBytes]

OK so monday I may accept a contract engineering position. I have always been salaried and have a bit over 2 weeks before the start... Is there a financial benefit to starting and LLC and registering the work under that? This would move to direct in 3-6 months.

 

[dragon8]



OK so monday I may accept a contract engineering position. I have always been salaried and have a bit over 2 weeks before the start... Is there a financial benefit to starting and LLC and registering the work under that? This would move to direct in 3-6 months.

I think you would save on taxes on the LLC in general. But in your situation they are hiring you not your company.

 

[taxgenius]

If you owned the LLC 100%, then the LLC is disregarded for tax purposes. Any income earned by the LLC is treated as if you earned it. I don't see a tax benefit of operating as an LLC, but there may be some non-tax benefits.

 

[MrGoodBytes]

I can only assume by your user name that you speak authoritatively on the topic and that was exactly what I was looking to know so big thanks for the input, that was exactly what I was trying to figure out.