1099/W9 Question

Out of context: Reply #15

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• ifeltdave0

  Become an LLC, the tax rates will be much lower for you.

  Then, you pay yourself out of a business account as you need personal money. Any other money you get, checks are made out to "Joe's Business, LLC" and go right into that account, untaxed, untouched until you send it out somewhere else. You'll pay business tax, but those are small in comparision to personal extra income.

  ifeltdave 0Permalink

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  • ...i think.ifeltdave
  • well, you will eventually pay the same amount of tax. it is just a way of deferring it.heavyt
  • with an LLC, you are only taxed on teh amount you withdraw for paying yourself.heavyt

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