Submitted by Commercial-Pair-3593 t3_10phqbp in personalfinance
Commercial-Pair-3593 OP t1_j6ktqwv wrote
Reply to comment by kveggie1 in LLC and W2 earnings an income tax question. by Commercial-Pair-3593
I'm aware of the 15.3 and that I can deduct half from the income tax.
There is no state tax here but a $25 yearly filing fee.
I'm an engineer developing unique products, if the price is estimated to be higher than I think the market will accept then I will not develop that product. 10% is the entire profit margin or more than for some businesses so I hope you can see why that makes a big difference.
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