turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Announcements
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

Is there any benefit to forming an LLC before the current tax year is over?

Planning to get a small business license and I want to know if there are any benefits or detriments involved in starting the application before the tax year is over. Thanks!
x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

2 Replies

Is there any benefit to forming an LLC before the current tax year is over?

There’s no tax benefit. 

Is there any benefit to forming an LLC before the current tax year is over?

And...you are asking your question on a Friday leading into a holiday weekend.  The next business day will be Tuesday, Jan. 2, 2024.

**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**

Unlock tailored help options in your account.

message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question