http://askmattcpa.com we are free agents nation ... Sun, 11 Dec 2011 21:20:30 -0700 http://wordpress.org/?v=2.9.1 hourly 1 http://askmattcpa.com/about/comment-page-1/#comment-519 matt cpa Sat, 18 Sep 2010 15:58:58 +0000 http://askmattcpa.com/?page_id=2#comment-519 LLC is a pass-through entity. The business net income will flow to your personal tax return. You will be paying both income tax and self-employment tax (social security taxes). Some people choose to elect their LLC to be taxed as s-corporation, and pay salary to the members. The idea is that you pay social security taxes on your salary only, and the rest of the net income will be subject only to the income tax. LLC is a pass-through entity. The business net income will flow to your personal tax return. You will be paying both income tax and self-employment tax (social security taxes). Some people choose to elect their LLC to be taxed as s-corporation, and pay salary to the members. The idea is that you pay social security taxes on your salary only, and the rest of the net income will be subject only to the income tax.

]]> http://askmattcpa.com/about/comment-page-1/#comment-494 MJ R Fri, 03 Sep 2010 12:41:28 +0000 http://askmattcpa.com/?page_id=2#comment-494 I live in Texas and will start working on a commission basis. If I am to receive large commission amounts, is it better tax wise to stay as an individual contractor or to form a one person LLC. I live in Texas and will start working on a commission basis. If I am to receive large commission amounts, is it better tax wise to stay as an individual contractor or to form a one person LLC.

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