Starting an LLC after the fact

[Nick Woeh]

Hi, I've been working as an associate since July. I am a 1099 contractor. I didn't make an LLC or PLLC and I've just been getting paid to my personal bank account. I was wondering, can I make a PLLC now and transfer that money to the PLLC retroactively? My goal is to get out of paying as much self employment tax and put more money in a SEP IRA. Thank you!

[Charles Carillo]

@Nick Woeh

It is possible. I would speak to your accountant first. Then you would need to tell your broker so they can make the necessary changes and start paying your business directly.