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re: Starting an LLC

Posted on 2/2/16 at 3:42 pm to
Posted by Mo Jeaux
Member since Aug 2008
59426 posts
Posted on 2/2/16 at 3:42 pm to
quote:

he'll be paying a chunk in fees and now a pant load of taxes.


Why?
Posted by EvrybodysAllAmerican
Member since Apr 2013
11265 posts
Posted on 2/2/16 at 4:02 pm to
quote:

he'll be paying a chunk in fees and now a pant load of taxes.



Why?



Because Uncle Sam likes to spend other people's money?

Income tax (state and federal), self employment tax, payroll tax, possibly sales tax, probably some city or parish business licenses, occupational licenses, etc.

Seriously, if its a high school kid, summer job type business, just making a few thousand, keep it off the grid.
If he's trying to make it a career or a long term business, then he'll eventually have to, but id wait until i had no other choice and needs to start deducting business expenses, etc. Keep it simple and keep the government out of it as much as possible.
This post was edited on 2/2/16 at 4:36 pm
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