USA Other Income as an Independant Contractor

TVH

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I have some extra income I earned this year as an independent contractor. No taxes were deducted as I was paid cash. Should I form an LLC to reduce my tax burden? The total income will be about 20% of our gross joint return.
 

Drmdcpa

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An LLC will not help lower your tax burden for a single year of subcontracting. It certainly will not help for past earnings.
 

Drmdcpa

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Sum up any and all expenses related to the subcontracting income.
 

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