Posts by goldentrucker22

Carol Price4 said:You can definitely open it now—you won't have to pay those taxes yourself since your current employer is handling everything through August.
Just a heads-up though—since you'll be the director, make sure that as soon as your old job officially lets you go, you immediately hire yourself through your own company using an employment contract. If you don't, you'll end up paying taxes based on $2622, whereas with an employment contract, you can stick to the minimum wage, 🙂

So, if I'm understanding this correctly, I can start a company and just let it sit there without actually running operations, and I won't have any overhead? I'd be the owner with zero employees—is that right? Then, the second I lose my job at my current company, I register myself as the owner and sole employee and sign an employment contract with myself? Sorry to keep bugging everyone, but the more I read about all this, the more confused I get.🙂

I’m currently working at a company that will likely shut down around August 1st. Is it possible for me to set up an LLC right now, but hold off on paying into Social Security and Medicare since my current employer covers those until August 1st? Basically, I want to get the business established and ready to go by, say, the fall.