Regarding taxes, your business should graduate to a more tax advantageous entity type, as your business earns more net income.  As a general rule, we recommend that a switch occur around $50,000 net income. This income level is usually where Self Employment tax becomes too high.  

Below is an illustration that shows the tax savings.  The sole proprietor example applies the same way for: 


     LLC Single Member 

     LLC Multi Member

     and ... Regular Partnerships

​To learn more, please schedule a Business Consultation at our office.