Monday, August 15, 2011

Tax question- Individual Tax rate differences due to Tax status change?

I am trying to get out of my contract with my employer, My employer wants $200,000. I have found an investor with the $200K and we will create an LLC in OH with me being the president. If this happens, what will happen to my tax treatment moving from currently making $70,000 gross and then earning $100K gross as my portion of the commissions. What is the rate of difference?

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