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Did you pay your taxes? (infosec.pub)

submitted 1 week ago by thal3s@sh.itjust.works to c/whitepeopletwitter@sh.itjust.works

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Related: Robert Reich posted earlier today that Tesla paid ZERO taxes on $5 billion in sales (earnings?), so that’s just fucking great.

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[–] OshagHennessey@lemmy.world 2 points 1 week ago* (last edited 1 week ago)

Assuming you're actually doing work and not just using the business as a loss center, yes.

If you're actually doing work, it's well worth your time and money to form an LLC.

However, an LLC can't deduct the same things as a sole-proprietorship. So, if you simply want a business on paper to serve as a loss center, that's probably the better choice.

Again, this is just MY understanding of things. I'm in no way trying to give advice or tell you what YOU should be doing, only you can decide what's best for you.