Let's say if I am making $160k for my 1099 job and my spouse has a W2 job...
Question 1) Should I form an LLC and/or S Corp for my 1099 job? Or what should I do?
Question 2) What are the steps to form an LLC and then structure it as an S Corp? I believe the S Corp election is within 60 days of obtaining an EIN or LLC, right? What forms to file?
Question 3) If I need my spouse to help me with admin stuff, bookkeeping, etc. for my LLC or S Corp, does my spouse need to be a member of the LLC as well?
Question 4) What are the pros and cons of an S Corp vs. an LLC structured as an S Corp?
Question 5) What TurboTax software products we will need for both personal and 1099 job/business?
Thanks in advance!
