Work for a Corporation, but also have a side busines structured as a LLC-Sole Proprietor

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Submitted by Anonymous on Sun, 2010-01-03 11:59.

General Discussion

I have 2 sources of income.....my Corporate day job, and a side consulting business. I will make $175k from the Corp job, and probably net $200k from my side consulting gig this year. If I exceed the SS tax cap on my Corp job/income, do I still have to pay the SS taxes on the income I make from a side business structured as an LLC-Sole Proprietor?
thanks
Scott

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IRS Circular 230 Disclaimer: Pursuant to Internal Revenue Service guidance, be advised that any federal tax advice in this communication, including any attachments or enclosures, was not intended or written to be used, and it cannot be used, by any person or entity for the purpose of avoiding penalties imposed under the Internal Revenue Code.

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Work for a Corporation, but also have a side busines structured as a LLC-Sole Proprietor

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