Posted 2/20/2021 07:36 (#8846089 - in reply to #8845992) Subject: RE: What business structure to put farm in
Fetv - 2/20/2021 06:38
You might consider putting the land in an LLC. Then you rent the land from the LLC as an operator. The rent that you pay to the LLC would not be subject to Social Security tax. Running it as you are all profits May be subject to Social Security tax.
I think you have it backwards. You want the land in your name and the LLC would rent the land from you. It's not the rent your going to pay SS tax on, its the profits. The LLC would not pay SS tax on the profits.