Transitioning sole proprietor to an LLC with s corp tax election

Legal Questions
1

I have collected around 100k thus far for which I will be 1099-ed in my Sole Prop. Setting up an LLC now and I am wondering if I can include the my 1099 $ into my LLC and save paying double FICA on the 100k with your scorp tax strategy? I have more $ coming as well billed under the Sole Prop but not yet cashed.

ps. love your book, podcasts and youtube

best
JM

2

We covered this on today’s Open Forum Show today! The show will be released/uploaded to iTunes tomorrow on November 11th. Thanks so much for listening and participating!! Mark and Mat

3

Hey Jack:

Super excited to gain your perspective on this topic. Love what you all do!
Best JM