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>have you incorporated? My state LLC >Do you pay quarterly taxes? Absolutely, mail a check with the coupon based on income earned. >Do you list it as other,
by atwebb 10y ago
>have you incorporated?
My state LLC
>Do you pay quarterly taxes?
Absolutely, mail a check with the coupon based on income earned.
>Do you list it as other, unreported income on your returns?
Schedule C and income from business, you pay Self-Employment Tax, SEPs are nice to push off the income to retirement and see a tax benefit if it's supplementary.
I also carry worker's comp and liability insurance, pricey, annoying to setup and deal with but worth it from my perspective.
- no_protocol 10y ago> I also carry worker's comp and liability insurance Would love to hear ballpark figures on this stuff. I know it can easily be apples to oranges, but I don't even have a rough idea where it would be.
- atwebb 10y agoSure, worker's comp is around $400 a year, the tech liability is <$2k. Honestly, the hardest part was the analysis paralysis of "Gee what do I do, I'm sure it's weird and complicated". Just called a local place, they are the agent and got me a policy, similar to healthcare prior to the exchanges or having a State Farm rep.
- sean_patel 10y agoHi, do you have any recommendations for a 'tech liability insurance' company? I was told by my accountant that I need 1 too, and since I am in CA, she advised me the same thing in these threads, i.e. Don't waste 800$ in single member LLC, just get Liability Insurance
- sean_patel 10y agoHi, do you have any recommendations for a 'tech liability insurance' company? I was told by my accountant that I need 1 too, and since I am in CA, she advised me the same thing in these threads, i.e. Don't waste 800$ in single member LLC, just get Liability Insurance