Your LLC is a business and if you are the only owner, you will owe self-employment taxes on the net income from that business. Be sure to keep good records. Learn to use accounting software like QuickBooks or CreditKarma to track your income and expenses. If you pay for your own health insurance, you may be able to deduct those payments. If you have a home office, learn how to deduct the use of your home for your business. The links below provide more information on running a successful business.
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