I am affiliated with a pass-through LLC which is an opportunity for me to get consulting business. The clients pay the LLC. The LLC keeps a previously agreed-upon percentage and pays me the rest. The LLC reports my income on a 1099-NEC. I receive no other benefits from the LLC -- it doesn't contribute to a retirement plan, it provides no insurance, it doesn't withhold anything (taxes, etc) from the money.
I have two questions:
Thanks to all!
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Yes, you are considered self-employed in this situation. Therefore, you are eligible to take the Self-Employed Health Insurance Deduction.
See Deducting Health Insurance Premiums If You're Self-Employed for more information.
Yes, you are considered self-employed in this situation. Therefore, you are eligible to take the Self-Employed Health Insurance Deduction.
See Deducting Health Insurance Premiums If You're Self-Employed for more information.
Thanks very much!
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