I am completing certification and will open my own coaching business. I want to ensure my personal savings and real estate are protected from anything in my business. I am currently retired living on social security and a couple of annuities as income.
1) What type of entity would work best? LLC?
2) As an independent life coach, sole proprietor what are the taxes pay? Do I still have to pay SSA / Medicare?
3) What tax implications do I need to take into consideration as a sole proprietor?
Thank you
