Anyone here has any experience in creating a LLC? Does it really help lower tax liabilities? I haven’t had the time to look into it but I hear it’s pretty powerful.

Posting as :
works at
You are currently posting as works at

Are you employed? Do you own and operate a business? Do you have a portfolio of stocks that are bringing in passive income? LLCs typically only help save on taxes if they’re operating as a business or if they hold significant assets that can make $$ for you. Not sure if that’s the context you’re asking or what your personal situation is.

like

No, you can’t commingle your personal assets with a businesses.

In order to get tax benefits, you would create an LLC and operate it at a loss. This means there has to be some sort of business surrounding it where you’re making some effort to generate revenue, not just an empty entity that you allocate personal expenses to

like

Yes

Unless you have a bunch of business expenses for side hustles that you want to write off for tax purposes you aren't going to magically save in taxes just by having an LLC since they are pass through tax entities

like

Got it, thanks.

Related Posts

For those who cold call on 401k plans, what is your approach?

like

Why do 403b have such I fees? I almost want to stop contributing all together or just minimum 6% to meet the match. Possibly just rely on the pension but what if it’s underfunded when I retire?

Making $37 hr full time with benefits. Chattanooga Tennessee

like

Any inputs on QS stock? I got it at $15 rate, how long will it stretch? Pretty new to shares, how you people decide when to pull back?

like

What is your favorite part about being a realtor?

like

Are y’all waiting to do a mega backdoor Roth to see what they do about build back better this year or just moving forward with it?

like

List the college you went to. When you graduated. How much you pay monthly on student loans and when you think you will be done.

like

Taking a sentiment of where you think bitcoin will go from here. Like the option that you agree with in the responses

like

Hey Folks ,

Can you help me understand the PF deductions in Coforge CTC, Is it just the employers contribution ? And employees share will be deducted from Gross Monthly Salary?
Also about LTA , Can i opt out of it and get it as taxable amount?

Thanks in Advance 🙂

like

Has any one went from reinsurance back to insurance? The money is great and all but the W/L balance isn’t. Has anyone else felt the same?

like

Can anyone invest in Roth IRA asking with 401k or is there a limit based on salary? I was told if you are making above X, you can't invest in Roth IRA. If this is true what's is X amount?

like

Damn coinbase, I see you ;)

I just received an offer to lateral into banking. How does independence affect the stocks I currently own? If I join and my stocks are on a restricted list will I have to sell them? Or will I be limited to being unable to buy more/sell any during the course of my employment.

likeuplifting

Hello fishes
Can you guys please suggest me the good term insurance plan and things I need to check before taking the policy.

like

Buy/lease now or defer to Q1-2023?

My car broke (engine seized, 10y old). I am interested in 530i ($62k price), however 3year lease is $1,000+ monthly (with $5k down). Monthly lesse payment is 50% more than bmw advertised offers (“south FL dealers are not participating in the program”)

Q to car gurus/experts- should I defer purchase/lease for 6 months? My logic, the impending recession will reduce demand and we will go back to more balanced market (lower prices with negotiation).

like

Is it a good idea to invest in your UK pension fund over the max your employer will contribute/match? This may potentially lower income tax but then one can't really access the pension pot till retirement. Or is it better to invest post-tax income into a stocks and shares ISA to avoid capital gains tax? TIA!

like

If I had a traditional IRA before being employed in a 401k eligible role, can / must I roll that IRA into the 401k or can I leave the accounts separate without deleterious tax consequences?

like

Okay guys give me a list of things to lower my taxable income. Make yearly with wife 200k.

like

Newbie trying to get a better understanding: is it better to max the 401K or just hit company 401K match and max Roth IRA first?

like

New to investment and have saved 50k from my job. Is putting them in ETF strategy till I learn more about investment?

like

More Posts

“Isn’t meth, like, so early 2000’s? Does anyone do that anymore?”

likefunny

Question might sound naive, but im not aware of the process thats why asking. Regarding joining bonus, do companies offer joining bonus for people who can join early only? Or if we have 90 days notice then also we can ask for joining bonus?

like

CCTC : 20L (Fixed) + 2L Variable Bonus

Tech stack : Backend Development C++

YOE : 6+

Offer : 45L ( Fixed ) + 40L Signon Bonus ( divided in 2 years ) + Stocks worth 60L ( Divided in 4 years)

CTC (1st year) : ~ 71L (Base+Bonus+Stock) + 1.5L Relocation

like

Can anyone tell me about EY India ( Not EY GDS) ? Pros and cons

Received a verbal offer/commitment from the engineering team 3 weeks after my interview process. Still sitting and waiting (1.5 weeks) to have the conversation about compensation expectations and finalizing the offer. Is the Google hiring process typically this slow? I feel like this is not a good reflection of their recruiting process. Let me know if you've had recent/similar experiences

like

Any referer from Accenture?

like

Hi all

I am a european law student and I will try to get to do a J.D. in the US (i want to move there) and I wanted to know if it‘s possible to work next to your law studies in the US. I have been working between 20 and 50 hours while studying (it‘s exhausting af but i need the money lol) and I wondered how the situation is in the USA.

like

22- Asked to upload document in ibegin
23- Verified all documents
What next ?
Current status as show below on ibegin

Post Photo
like

Hey Folks, Can any one suggest a good name for this bowl

Looking to purchase a birth year watch (1987) am eyeing a Rolex Datejust ref: 16234 (fluted white gold bezel, Julianne bracelet)

Any leads on reputable vintage Rolex dealers in nyc?

like

OMEGA INCREASED THEIR PRICES OH NOOOOOOOOOO

like

Which is the worst Disney animated movie?

like

Hello Fishes,
I cleared the Level 2 interview as an Appian developer. Could you please let me know what Level 3 interview would be about? Thr HR said it's an interaction session with the panel. But should I be prepared technically?

Hello!! I’m starting a new job on February 1st and will also be going through the remote onboarding. I finally got the official “pass” from my background check yesterday. My biggest issue was just dealing with the company giving the check. They kept asking for the same info several times which was frustrating. So glad that process is over!!

like

Looking to learn coding. Any thoughts on learning code through a website like Udemy, CodeAcadeny, etc.?

like

How is pega practice in LTI ?

like

A production I worked on is $250k in the hole and owes a bunch of crew members money including myself. Looks like they just missed a big deadline to keep from going belly up. What should we do?

Happy Friday, y’all!!

Post Photo
likefunny

After being underpaid and undervalued at a previous employer, I’ve now doubled my comp in less than a year. Taking my talents to FAANG gang! Don’t give up! TC: $250K

likehelpful

Additional Posts in Investment Banking - IBD

What’s the best VDR and why is it datasite?

like

Looks like some bonus numbers are coming out for bankers, would appreciate any insights!

like

I am going to speak with a recruiter at Houlihan Lokey TMT in LA. I would like to know more about the group and its culture. Would love to connect and network🙏

like

What does everyone wear for client meetings in a WFH setting

like

Does anyone know about Sage Group? Seems to be a boutique firm but not sure about their culture and overall dealflow in the market.

like

Thoughts on PJT strategic advisory?

like

Any staple brands for a first year analyst’s wardrobe?

like

Anyone at Goldman in Portfolio Construction/Liquidity/Fixed Income that would mind chatting with me? Have an interview coming up soon.

like

I just received an offer to lateral into banking. How does independence affect the stocks I currently own? If I join and my stocks are on a restricted list will I have to sell them? Or will I be limited to being unable to buy more/sell any during the course of my employment.

likeuplifting

Anyone analyze QoEs before? Need to come up with questions for due diligence call and looking for some guidance

like

Does Barclays UK help it's employees who are interested in getting financial/ accounting certifications?Barclays

like

Difference in A1 stub bonus when joining in March vs. summer as usual? I’m joining early, but still part of the 2022 Class.

like

Nyc based. Is it at all possible to make at least 200 base in corp dev or strategy at a tech company? Super burned out but don’t want to take a paycut in base. I realize I’ll never make all in comp the same in tech but if I can match base I’d be content.

like

Lower middle market bros. What’a your comp structure? I will share:
100k$ + 60k$ discretionary bonus

like

I just graduated from a nontarget in Dec 2020 & am currently interning at PwC before I go back to do my Masters. My initial plan was to accept my full time offer and slowly work my way into IB.

I see postings right now for FT IB analyst programs. Should I even try applying online?

Ik recruiters don’t really read cover letters, but I learned about banking rlly late into college. i’m the daughter of blue collar workers who don’t speak English so I never really knew what jobs were “prestigious”

like

Looking for advice: I have an analyst (9 months on the job) who still doesn’t get it - repeatedly misses comments, doesn’t follow instructions, slow, etc. I have raised this to both my MDs and they seem to be adopting a “not my problem” approach when I mention it. I had advised against hiring this analyst post internship and my MD insisted that all the issues I highlighted were fixable. I have tried teaching him to no avail and frustration with him is growing. Any suggestions for how to handle?

like

Would tech ib (m&a) be more affected than say Healthcare/pharma ib in an economic downturn?

funny

Thoughts on the Tech investment banking scene in Charlotte, North Carolina?

like

Senior Risk Consultant + CPA at big 4 (4 YOE) looking to break into IB with no Deals experience. Would appreciate any tips, tricks and resources for interview prep and beyond. I have an interview coming up with an MM bank in their Real Estate group. TIA

like

Weighing whether another year of IB experience would be helpful, or would just make me one year older at the same starting point in PE.
I’m 1.5 years out of college as an analyst at a middle market bank within the healthcare M&A group. Getting worked a lot but starting to operate as an associate on deals. Debating accepting an offer for a newer, lower-MM healthcare and growth focused PE firm. I know I want to go to PE at some point, but what are some thoughts on when you should go?

like

New to Fishbowl?

Download the Fishbowl app to
unlock all discussions on Fishbowl.
That was just a preview…
Sign Up to see all discussions
  • Discover what it’s like to work at companies from real professionals
  • Get candid advice from people in your field in a safe space
  • Chat and network with other professionals in your field
Sign up in seconds to unlock all discussions on Fishbowl.

Already a user?
Login here

Share

Embed this post

Copy and paste embed code on your site

Preview

Download the
Fishbowl app

See what’s happening in your industry
from the palm of your hand.

A phone with Fishbowl app

Scan your QR code to download
Fishbowl app on your mobile

Download app

Sign up for free to view this conversation on Fishbowl

By continuing you agree to Terms of Use and Privacy Policy

Already have an account? Log in

Sign up for free to continue using Fishbowl

By continuing you agree to Terms of Use(New) and Privacy Policy(New)
Messaging rates may apply

Already have an account? Log in

For account settings, visit Fishbowl on Desktop Browser or

General

Legal