Adrian Said:

Can I use an LLC to pay myself with funds from my full time job?

We Answered:

Your paycheck will still have your deductions withheld, so putting it into an LLC will mean the LLC will pay taxes on already taxed money!..

Terrence Said:

Can a person collect unemployment if they have an LLC?

We Answered:

He can fle and collect.

Pamela Said:

Can I write off the losses my llc company incurred?

We Answered:

These are start up costs. You can't deduct them until you open for business.

Tim Said:

should i sue an individual or their contracted name with an llc.?

We Answered:

The LLC stands for Limited Liability Corporation.
Individuals operating under this heading have some of the protections afforded by corporate law, but not all.
Liability itself would be determined based upon what the actual transgression is.
But, you should always sue the corporate entity first and foremost.
What follows is then known as 'trickle down litigation', this is where the various liabilities are determined and appropriate blame is assigned on as many levels as applicable.

Allan Said:

Can I write off a loss from an LLC against income on my W2?

We Answered:

I don't believe you can sir. However it would be wise to contact an accountant to verify and to see if there is a loophole, one thing I know about california law, is that it is tricky, and I'm glad I live in Arizona :)

Kenneth Said:

What would happen if everyone worked as a single member LLC in the corporate world?

We Answered:

You need to do more research.

1. Employees are not sole proprietors. Telling my boss I'm now an LLC will not change how I am paid nor how I report that income.

2. Personal living expenses are not deductible operating expenses. Money to live on is the purpose of the standard deduction and personal exemption amount. If personal expenses were deductible, you'd have the government telling you which ones they would allow you to deduct. Total loss of freedom.