QUESTION
Can I save on my income taxes, if I form a single member LLC in NY before 2019 ends, as my personal income is higher this year?
Asked on Dec 28th, 2019 on Business Law - New York
More details to this question:
My personal I income was higher this year and I am sure it won’t be much next year. I intend to start an online business soon and have already bought some equipment for it. Will I save on 2019 income tax, if I register my business this year and reduce net income with these expenses? I dont have any business income yet. I think I can still file for 1 day express registration.
1 ANSWER
Mergers, Acquisitions and Divestitures Attorney serving New York, NY
Partner at
Russo Law LLC
2 Awards
Seems to be a question for an accoutnant. Even still, you woudl not be able to open an entity on 2 days notice. It would take at least a week in New York.
Answered on Dec 29th, 2019 at 3:40 PM
Lou Russo RUSSO LAW LLC info@russolaw-llc.com 929-292-1101 www.russolaw-llc.com