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Is there a good site for estimating taxes for LLC's in various states?

Posted on 4/24/15 at 8:35 am
Posted by Dan Bilzerian
..on my yacht or jet.
Member since Dec 2014
1864 posts
Posted on 4/24/15 at 8:35 am
Texas & Louisiana, more importantly.

Sole-proprietorship/LLC?
S-Corp?
C-Corp?
This post was edited on 4/24/15 at 9:11 am
Posted by soccerfüt
Location: A Series of Tubes
Member since May 2013
65517 posts
Posted on 4/24/15 at 9:46 am to
The LLC is needing to pay taxes?

What kind of taxes?

You might want to seek more legal/financial counsel than you presently have.

Posted by Dan Bilzerian
..on my yacht or jet.
Member since Dec 2014
1864 posts
Posted on 4/24/15 at 10:00 am to
I'm trying to decide whether or not to set up an LLC and file as a plain LLC, S-Corp or C-Corp.

Which will reduce my tax burden more?

From my preliminary search, an LLC filing as a C-Corp is the cheapest as far as Federal taxes go, but is that the best option?
Posted by theBeard
Member since Jul 2011
6739 posts
Posted on 4/24/15 at 10:52 am to
(no message)
This post was edited on 4/27/15 at 3:43 pm
Posted by Dan Bilzerian
..on my yacht or jet.
Member since Dec 2014
1864 posts
Posted on 4/27/15 at 9:03 am to
Looks like an LLC filing as an S-Corp is where I'm leaning.
Posted by LSUFanHouston
NOLA
Member since Jul 2009
37007 posts
Posted on 4/27/15 at 9:19 am to
LLC as an S can potentially save you some money on self-employment/payroll tax, however, if you are a sole worker in a professional services industry, it probably won't be much. Also, as an S corp, you will need to file a separate income tax return, will have to do payroll, and will have to do payroll tax returns (or hire a company to do them).

If you are a sole owner, there are plenty of pros and cons to the three options you are considering, it really depends on the type of business you are doing and what your plans are.
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