Thank you. What's murky here is the "business," my being a director, writer, performer, has existed for 50 years. What's new is I created an LLC (along with an EIN) to ensure my name was also my busi...
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Thank you. What's murky here is the "business," my being a director, writer, performer, has existed for 50 years. What's new is I created an LLC (along with an EIN) to ensure my name was also my business when dealing with producers, theatres, royalties, and such. What has changed is "MyName" as a self-employed contractor to "MyName LLC." Royalties, fees, and licensing contracts to produce my plays as a writer would, I assume, be more in line with operating as a legit business and possibly incurring more profit and expenses than being hired as a director or paid as a writer. Also, for legal protection with copyright and ownership. It's just that 2025 follows two earlier years of little or no income, and 2026 may be a much better year. It seems that since 2025 is the first year of the LLC (even though it is my name) I would benefit from the Startup rule. Or, I can simply eat the expenses this year (as I would have a large loss as an independent contractor). We're not talking 10000s, we're talking 1000s. PS Don't know if age enters this equation, but I'm also 80.
