I used to own a business that did consulting. I finally got a new offer making more money, and i shut down the LLC. When I factored in all the costs of the LLC, I was losing money left and right. Than there's the compliance, state filings, estimated quarterly filings, penalties, S-corp withholdings, social security filing, and who the hell knows. Even though the LLC was making good money, it simply wasn't worth the headache anymore. I found a job, which can only be described as by God because it beats out what my LLC was making by over 50% and it's full time. My accountant advised i just shut down the LLC and go down the full time route instead, especially for the rate new company gave me. Bidenomics everyone!
I calculated I was losing a few thousand a month on taxes and fees with my own llc. Heck I pay MORE money in taxes as an llc than I do as a full time. This doesn’t even go into the issues that llc experience sometimes does t even count as valid depending on the company, since they want the client list too
CovidHoldout 0 points 1.8 years ago
I calculated I was losing a few thousand a month on taxes and fees with my own llc. Heck I pay MORE money in taxes as an llc than I do as a full time. This doesn’t even go into the issues that llc experience sometimes does t even count as valid depending on the company, since they want the client list too