I recently started a consulting side business that is projected to bring in about 50% of the income of my full time job. While the majority of my full time job money goes to covering my monthly expenses and some investments/savings, I am planning on investing my consulting money, however I’m stuck on if I should invest through the LLC I created or if I should pay myself and invest it personally.
A couple factors that might influence the decision:
-Taxes (US). In my state ~30% of an LLCs income should have be reserved for taxes.
-I’m not planning to try and grow the business (like hire employees or anything) since it’s not my main career focus, just a nice side hustle
-I currently as single, and I’m the sole owner of the LLC - although the single status may change in the next 2 years. Definitely would involve a prenup.