I had an LLC, but the tax laws in my town made it too expensive to keep so I closed it. Now I do contract work as just plain ol’ me.
I strongly recommend doing research on the laws in your local area, I had to pay property taxes on anything the business used even if it wasn’t purchased/owned by said business.
Where I lived you were taxed on the depreciated value of literally everything used for business purposes. Your computer and accessories, desk, pens and paper, literally everything. There was a massive form to fill out every year with different areas for different types of items.
I had to start paying property taxes every year on a desk I’d gotten for free 10 years earlier. That’s how I knew I had to either move or close the LLC. Turns out I did both 😅.
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I had an LLC, but the tax laws in my town made it too expensive to keep so I closed it. Now I do contract work as just plain ol’ me.
I strongly recommend doing research on the laws in your local area, I had to pay property taxes on anything the business used even if it wasn’t purchased/owned by said business.
What are some examples of things that require "property tax"? I've always thought of that as just a real estate thing.
Where I lived you were taxed on the depreciated value of literally everything used for business purposes. Your computer and accessories, desk, pens and paper, literally everything. There was a massive form to fill out every year with different areas for different types of items.
I had to start paying property taxes every year on a desk I’d gotten for free 10 years earlier. That’s how I knew I had to either move or close the LLC. Turns out I did both 😅.