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Updated almost 6 years ago,
Will my personal taxes decrease if I create an LLC?
Hello folks, I am a newbie so bare with me. I have a question about opening an LLC and the tax implications. I have a full time job and I wish to purchase rental property to buy and hold. Current tax rates for LLCs I believe are 15% as 2019. Is my tax rate as an individual affected as well? Meaning, will my income for my full time job decrease to 15% if I open an LLC? Or is the tax deduction only for the LLC and has nothing to do with my full time job since the tax ids are different?