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Updated about 10 years ago on . Most recent reply

User Stats

39
Posts
8
Votes
Jeremy Kalaf
  • Wholesaler
  • New Hartford, NY
8
Votes |
39
Posts

Self Employed vs LLC

Jeremy Kalaf
  • Wholesaler
  • New Hartford, NY
Posted

(New in Upstate New York)

Ok, so last year, my income was reported as self-employed.  I used Turbo Tax.  It was sweet, and easy.

Now I am creating an LLC this month. Does this mean that my income and expenses are no longer filed as self-employed? I will be the owner of the LLC. How does my filing change if I still have a full-time job, and invest part-time?

If it matters, most of my deals are short term gains. I am going to do a 2nd LLC for long-term holds.

Thank you.

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