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    mnwa's Avatar
    mnwa Posts: 1, Reputation: 1
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    #1

    Jul 22, 2014, 04:49 AM
    W2 vs. Corp-to-Corp, Single member LLC w/S Corp election
    I live in Washington state and I have a fulltime w2 salaried job with full benefits (health, retirement, etc.) and say I make about 150K in salary+bonus. I am starting a second job as a hourly contractor where I am expecting to make say about another 150K if I go for corp-to-corp or 140K if I go w2. Both jobs are WFH/telecommute. What would be the most beneficial / tax saving option for me to start the second job as? I was thinking of going for corp-to-corp and opening a single member LLC with S Corp tax election. Any advice? THANKS!
    ScottGem's Avatar
    ScottGem Posts: 64,966, Reputation: 6056
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    #2

    Jul 22, 2014, 05:14 AM
    Since you have benefits coverage under the first job, I would be more inclined to take the second job as a contractor. There are some advantages, primarily in liability issues, to an LLC vs a sole proprietorship. But with your income, you can afford to hire a CPA to advise you.
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