Thread: LLC and taxes.
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Seahawk Seahawk is online now
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Join Date: Jul 2004
Location: Maryland
Posts: 31,804
I have an LLC for the farm and horse boarding operation (mainly for legal separation of personal and business), have been a member of numerous LLC's for investment purposes (real estate) and currently am a Director/Owner of yet another LLC.

Each is different in both structure and intent. The best advice I ever received and followed was from an retired Marine Corps MGEN who I am good friends with. He has, like I do, numerous interests, including a consulting firm and a vineyard in Virginia and told me this: Find an accountant who is also a lawyer, that way you won't get billed twice.

I use his. Amazing guy...Ben Stein without a personality.

As to adding an employee, that is a whole other issue, one that needs to be carefully considered from any number of angles, including the insurance perspective. The best method for bringing on folks is to 1099 them...no muss, no fuss but no stability in the workforce.

Find a lawyer/CPA: Chat.
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Old 02-08-2010, 12:29 PM
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