I will be creating a business as a side work and create an LLC next year while working for corporate. Are there any good resources I can use to learn more about how I can use LLC to reduce my overall tax burden?
LLCs do not limit your tax burden, it's just a shell. There are no tax moves available to an LLC that aren't available without one.
Tax deductions on business expenses (laptop, car, etc) that double as items for personal use, to my knowledge. Obviously more useful if you’re gonna spend a lot of money.
you can get all those deductions without an LLC
The are no “real” tax reasons to do an LLC. It’s just legal protection.
Besides not being subject to double taxation of course
A CPA.
An LLC does not reduce your tax burden. Making less money does.
Yes, you can infact reduce your tax burden with an LLC. Either buy cheap ass empty property in Nevada and register your business to that location or purchase a post office suite (basically giant PO Box) in Carson City or Reno Nevada. Your relative tax burden will be slightly decreased by avoiding state taxes, but federal taxes will hit just as hard.
You don't need an LLC to do that
Sure, you can do the location game just as a W2. However, your W2 will trace back to the location that you worked and you need multi-state filing. That benefit would be on things like personal capital gains. However, if you plan to contract out services you will want the LLC for legally limiting your liabilities rather than let a lawsuit garnish 100% of your assets. If you’re going to make an LLC for the few legal benefits, maybe even a company needing a partner, then go ahead and be selective with your location.
Limited Liability Companies for Dummies