Starting an LLC: Where to begin?
in Business, Accounting & Taxes ·
Once you start pulling in some decent cash through an LLC, getting that money out of the business gets a little tricky if you don't have employees on the payroll. I run a firm and also have my own side hustle, and you aren't paying double Social Security or Medicare taxes. You might just end up owing a difference at the end of the year if your earnings fall below roughly $1500 after everything is calculated.
My advice, based on what I've dealt with? A killer accountant is worth their weight in gold. Getting someone solid early on can really save your skin by giving you advice tailored specifically to your situation.
My advice, based on what I've dealt with? A killer accountant is worth their weight in gold. Getting someone solid early on can really save your skin by giving you advice tailored specifically to your situation.