Hi! I am a new business owner with an LLC, and I am seeking advice on how to use the LLC to write off the expenses. I am starting from scratch with only an EIN, and LLC papers from WY (Living In Texas). It is not a Texas based business as it is online (I run an online marketing agency that does work all over).
I am trying to save as much money as possible from the self-employement tax as well as deduct as much as I can with money I spend on business purposes.
Two questions
1. Whats the best way to structure my taxes so I get the benefit of the deductions and lessen the self employment tax
2. How do I pay myself as a sole poprietor of the business (do I need to file a seperate return for myself and the business?) Whats the best why to go about paying myself?
