Should I start an LLC?

Forum|Forum|3 years ago
March 15, 2023
1 reply
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I am possibly starting a side job which will bring in 1099 income. I usually get a nice refund every year on my taxes from my regular w2 income and wages. Should I separate the new 1099 income into its' own LLC or just put it all under my SSN?

TurboTax Premier Online

AnnetteB6

Starting an LLC (Limited Liability Company) is a matter of whether you want some personal protection from liability depending on the type of business you have.

If you are going to be the only person starting and running the business (instead of multiple people in a partnership), then it is a sole proprietorship that will be reported on your personal tax return whether or not it is also an LLC.

Take a look at the following TurboTax help article for some further information that may answer other questions you have:

Limited Liability Company Taxes

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