11/03/2023
Tax fact of the day:
Despite what experts on TikTok may tell you, you do NOT need to form a Limited Liability Company (LLC) to be able to deduct ordinary and necessary business expenses. I would know, since I have ran a business in the past without operating under an LLC.
LLCs are beneficial for protecting your personal assets from business related liabilities. Essentially, an LLC is a legal shield, if set up properly. That's it. It does NOT confer special tax benefits or "loopholes."
Reach out if you would like to know more! I am offering tax preparation and bookkeeping services to anyone, anywhere in the United States!