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SET UP YOUR LLC BEFORE JANUARY 1ST
LLCs have great tax and asset protection advantages. Getting one set up before January 1st is a key step to business success.
This is Dave Horwedel, CEO of Torchlight Tax.
Once your LLC is set up, you can back-elect (choose) to be treated as an S Corporation as of the set-up date and avoid/minimize the 15% self-employment tax.
Get your EIN (Employee ID number) from the IRS and set up a bank account so your LLC is now separate from you, and can get its own line of credit, using the EIN.
For more information on how to set up and use an LLC to save tax dollars and protect assets, contact Torchlight Tax at 877 758 7797 or get “hatted” at our website or YouTube channel.
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