Re:Ask HN: When to Form LLC/Bank for Side-Projects?
by unstatusthequo on Wednesday May 29, 2019 @10:57PM
(#20047976)
Lawyer here. But not your lawyer.
Anytime you have potential liability, you should form a separate legal entity and bank account. Look up "piercing the corporate veil." Also, depending on your income, a C Corp in Trump Era might save you about 40% on your taxes. Personal rate vs Corporate. So why not do that?
Anytime you have potential liability, you should form a separate legal entity and bank account. Look up "piercing the corporate veil." Also, depending on your income, a C Corp in Trump Era might save you about 40% on your taxes. Personal rate vs Corporate. So why not do that?