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Is it a single member LLC or corporation or Scorp? Are you W2 employee or 1099 contractor?
Single member LLC or have to opt to be taxed as corporation or scorp?
Single member LLC is a disregarded entity for tax purposes, which means is taxed the same way as sole proprietorship. If you are already sole proprietor, nothing will change or transition. You just start using the new name and EIN.
To be taxed as corporation you will need to elect a corporate status and put yourself on payroll. You will become employee of your own corporation. If you add partners you can become a partnership or elect to be taxed as corporation or scorp. If you keep single member LLC you will NOT be working for your LLC, you will be the owner of your LLC.
If you want to issue shares you will need to create a corporation.
LLC mean limited liability company. It is not a separate entity or corporation. LLC can be single member LLC (sole proprietorship), partnership or if elected Scorp or Corporation. An LLC will give you limited liability protection like a corporation but it keeps your taxes simple. A partnership is little more complex, a separate partnership return is required, but it is still a flow through entity (your partnership profit will be taxed on your individual tax returns).
I see you read my respond. Do you have any questions? Is there anything else I can help you with today?
There's nothing wrong with a LLC. If you are working as 1099 consultant you are already paying taxes personally. LLC is a legal entity, it is just disregarded for tax purposes. All reasonable and necessary expenses are deductible, regardless what entity you form. For a start up small business a LLC is a perfect choice. A corporation usually comes with more legal hassle and more filing requirements (separate tax returns, quarterly payroll returns, limited loss deductions, state filing fees.... ).
I am not exactly sure how do you want to "bill the LLC". You do not work for the LLC, you are the LLC and if you create a corporation, the employer would have to hire the corporation, not you personally.