Legal Question in Business Law in Louisiana

Business Law

I will soon be an independent contractor subject to 1099 taxation. If I form an LLC can I enter into contracts between myself and my LLC to lease my car and my home to my LLC and therefore reduce my taxable income on my 1099?


Asked on 4/11/07, 7:48 pm

1 Answer from Attorneys
Johm Smith tom's

Re: Business Law

You would be doing what the courts look for to nullify companies and hold the members personally liable. What you probably should do is have your customers contract with your LLC and then have the LLC pay for a home office and company car, all of which will lower your LLC's profits.

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Answered on 4/11/07, 7:56 pm


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