Your question is a good one but more of a legal one best answered by an attorney.   There may be some asset protection advantages to an LLC in the event that you ever get sued.   As for taxes, the IRS, considers an LLC to be a “disregarded entity” meaning that you and the LLC are one in the same. As a result, you will prepare your tax return just as you would without the LLC designation. ... View more

Agreed Paula M,  pay yourself first, and let your living expenses automatically adjust. ... View more

Please proceed with caution on crypto currencies.   Bitcoin is almost down 65% from its mid December high and continues to have a downward bias. https://www.cnbc.com/2018/04/04/bitcoin-price-below-7000-ripple-ethereum-and-other-cryptos-drop.html   You can chart its progress at www.bigcharts.com by entering the Bitcoin Investment Trust-GBTC. ... View more

In addition to the above advice on pre tax and post tax accounts:   Before you invest, consider building a bank or money market savings account to include 6-12 months living expenses to cover any would be financial emergency.   Afterwards, you should also consider a risk tolerance test to determine your best mix of investments to include stocks, bonds. commodities, real estate , cash, ect. . You may be able to take this test through a local financial professional or from the larger mutual fund companies such as Fidelity or Vanguard. These investments may be available to you in a retirement account such as a 401(k) or and IRA depending on the choices available to you. ... View more