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Business & farm
A Single Member LLC will not change your tax return at all (unless you live in a State that charges for LLC, such as the $800 California fee), so that is only for legal liability issues.
If you are continually reporting a loss, you may reconsider doing that type of work, as you spending time to lose money is not a good idea. I realize that the Standard Mileage Rate may be a larger deduction than 'actual' cash flow costs, but it would still mean you are likely spending time for very little money.
If you are continually reporting a loss, you may reconsider doing that type of work, as you spending time to lose money is not a good idea. I realize that the Standard Mileage Rate may be a larger deduction than 'actual' cash flow costs, but it would still mean you are likely spending time for very little money.
‎June 7, 2019
3:08 PM