1099 income

Forum|Forum|4 years ago
June 8, 2022
1 reply
12 views

Last year I started picking up work as a part time sommelier. The owner 1099's my income. This year I am getting a lot more work. I also am retired and get SS. With all of this untaxed income, besides sending in quarterly coupons, how should I prepare? I was self employed in the past and wondering if it makes sense for me to form an LLC?

AR_CPA

Level 4

Hello winetek,

Hope you're doing great! Congratulations on picking up this part-time work as a Sommelier. The best suggestion I have for you is if you have any business expenses related to this income, keep track, so you can deduct them on your taxes. Whether or not you want to form an LLC is a legal issue. I found some additional info for you on Legalzoom, Do I Even Need an LLC?

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