Hi Shall175,
As an independent contractor you would not need an accountant if you are comfortable keeping track of your business income and expenses. Depending on the type of your business and the volume of the income and expenses, you may choose to have an accountant. You can use an accounting system, an excel spreadsheet, or any method you choose to keep track of the income and expenses.
As a single member LLC, the IRS still considers that being self employed, and filing the Schedule C along with your individual tax return. A single member LLC may not pay oneself. A single member LLC, or independent contractor, pays tax each year on their profit or loss from the business. Wages or contract labor to yourself are not allowed.
I hope you find this information helpful!
Connie
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