Contract worker

Discussion in 'General Chat' started by MrGoodBytes, May 31, 2013.

  1. MrGoodBytes

    MrGoodBytes Senior member

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    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.
     
  2. dragon8

    dragon8 Senior member

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

    taxgenius Senior member

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    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.
     
  4. MrGoodBytes

    MrGoodBytes Senior member

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    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.
     

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