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Small Business

Business Entity

Illinois

Asked on Mar 17, 2022

I have an LLC for rental investment. Can i use the LLC to do independent corp to corp work.

Currently employed, with investment property under LLC. Would like to do independent contract work.

1 Attorney answer

Answer

Small Business

Illinois

Answered 194 days ago

T. Phillip B.

ContractsCounsel verified

Business Lawyer
Licensed in Illinois
Free Consultation

The question isn't whether you can do it, but is whether you SHOULD do it. You definitely would be able to do other work within the LLC. However, in doing so, now you active work and passive income are getting combined which would likely subject your passive income to the 15.3% self employment tax. Let me know if you have any questions on how to structure the businesses.

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