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Answered in 2 minutes by:
6/16/2022
Yaw, CPA, Certified Public Accountant (CPA)
Category: Tax
Satisfied Customers: 10,182
Experience: Expert
VerifiedHi, welcome to JustAnswer. My name is ***** ***** licensed CPA and I’m glad to assist you today.
If you set up an LLC, you have some options when it comes to LLC self-employment taxes:
- Disregarded LLC. If you create an LLC with one member and do not elect to be taxed as a corporation (see below), then you will still continue to pay self-employment tax as an LLC. Your tax liability for self-employment tax does not change.
- LLC taxed as an S corporation. As an LLC you can elect to be taxed as an S corporation. If you choose this option, you will not pay self-employment tax.
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