Other financial discussions


@joshuaandbonnie wrote:

Would registering for an LLC help when it comes to paying taxes or would the taxes be the same? 


They would essentially be the same since a single-member LLC is treated as a disregarded entity for federal income tax purposes; you would still file as a sole proprietor on Schedule C for your business, unless you elected to be treated as a corporation (S or C) for federal tax purposes.

 

Regardless, before making any potentially irrevocable moves, I would strongly suggest consulting with both legal and tax professionals with respect to forming any type of business entity.