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I am a production manager working with a roofing company based in Indiana. I am 1099. I am wondering if I have to get an LLC for tax purposes or if it's illegal to not have one as a 1099 worker. As I am new to this 1099 work, I just want to do everything the right way.
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One of the main reasons people form an LLC is to shield themselves from personal liability for incidents that occur within the course of business dealings. Many LLC's are pass through entities for tax purposes, which means it will not change your tax reporting circumstances. As to whether you should or should not do something, that would require an consultation with an attorney where he or she can review your circumstances and advise you.
Best of luck.
Answered on Jul 27th, 2021 at 6:51 AM