Quote:
Originally Posted by Brian in VA
It looks fairly easy to set up an LLC (a few forms) but yearly fees etc. Is there a big benefit in funneling the money thru an LLC v just filing it on a 1099?
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All else being equal there is no tax benefit to funnelling through an LLC. The default tax status of a single-member is = sole proprietorship. You would file Schedule C attached to your Form 1040. With an S-Corp you could potentially achieve a small tax benefit, but for 1k per month, probably not worth the administrative burden and cost of maintaining the legal entity IMHO.