topic Re: LLC creation in Self employed

LLC creation

hipaley2020 — Wed, 27 Oct 2021 20:08:03 GMT

I files an LLC 2 weeks ago. How does that effect my Unemployment in come and the PUA income I received in 2021.

Re: LLC creation

Critter-3 — Wed, 27 Oct 2021 20:10:17 GMT

Not sure what you are asking about ... simply setting up an LLC doesn't affect your ability to get unemployment benefits.

Re: LLC creation

hipaley2020 — Wed, 27 Oct 2021 20:14:25 GMT

Does it protect any of the income from taxes I have to pay.?

Re: LLC creation

Critter-3 — Wed, 27 Oct 2021 20:21:44 GMT

A single member LLC is absolutely no different then a simple sole proprietor so it saves you nothing.

Before you do anything get educated on the possibilities on the different business entities ... I believe you are thinking about incorporating ... possibly consult a local professional.

https://www.irs.gov/businesses/small-businesses-self-employed/starting-a-business