Do I have to pay self-employment tax if I'm employed by another company and I set up my LLC at the same time? I operate in Texas.

Yes, you are required to pay self-employment tax. It is better to discuss with CPA or tax professional if you have multiple sources of income and complex tax situation.

** Our response to a question asked on quora.

What are the sales taxes in Redondo Beach, California?

It is 9.25%. California state tax 6%, Los Angeles county tax 0.25%, Special tax 3%. The sales tax rate in Redondo Beach CA is 98 % higher than other CA localities. For sales tax, we always prefer you provide a zip code.

** Based on a question asked on quora.

Top 11 business tax deductions for real estate agents and brokers

As a real estate agent,  you are considered self-employed by the IRS. This applies even if you are working for a real estate brokerage firm. As a self-employed sole proprietor, you are eligible to many business deductions that you incur in your real estate sales activities. In order to claim the...

I’m looking to open an LLC in Delaware (or WY) for a online company. What should I look for? What should I be aware of? What are some pros and cons and the fine print?

An important step is also choosing the right tax classification and understanding your sales tax nexus as you are a online company. This is so you avoid any surprises later.

LLCs can be taxed as S, C, Sole proprietor(single member) or partnerships (multi member).

Before you form you...

Is it better to create an LLC or C corp if you plan to raise Angel or VC money?

 Conversion to LLC to C Corporation is complex. This is a major decision. You will incur compliance costs & also your CPA a will need to close LLC books and handle all tax/payroll compliances.

Also, as a business owner/founder you will later realize that your time will be spent on con...