About who should own a new LLC
I collect SSA retirement, approx $20K, and my teenage son collects 50%, approx. $10K, of my benefit. I'm creating an LLC for a business that will have no employees. The business will generate between $10K to $20K within 3 years. For tax purposes, will it be better to register the business to my son or myself? Note that for the next 2 years, I will run the business exclusively. After that, my son will run the business.
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