Forming an LLC as one owner vs two owner?

Ask accountant or tax professional.

 

The owners can be employees or not. Who ever works for the LLC can be employees, BUT, (depends on the state) owners can be exempt employees of a corporation. Meaning owner/employees can be exempt from certain payroll taxes and requirements. At the same time owner/employees can also be included in all payroll taxes.

You really need to ask your accountant this question. The correct answer requires more information than you probably want to post.
Good luck.

 

You also should consult an attorney.

Not giving any advice at all, but if you are the owner and the driver and someone comes after you to sue you the LLC is not going to Shield you very much.

The lawyer may or may not tell you to exclude her and maybe somehow set it up that the assets are in her name if you own a home or anything else.

The accountant may tell you to draw a salary like an employee of the LLC or the LLC as an S corporation, to help you to lessen the tax burden.

But you can pay your wife a salary the same way without her necessarily being listed as one of the members.

But you need to consult a good Trucking attorney and a good accountant for what to do.

 

You do not need a trucking accountant, you need an accountant first to determine what you really should be looking at when it comes to tax liabilities and properly set it up.

llc no matter what others claim do not limit your liabilities when it comes to trucking.

 

I left my Wife off mine. Better that way. If She wants her Own Company, get it herself, Lol. Seriously if for some reason, I had to fold up, another could be opened on her name. Just in case. And to shelter her from any Liability meanwhile. A permanent Power of Attorney is something to consider, just in case. Make it easier for her, God forbid. Things I’ve heard over the years. Definitely get a Lawyers advice, if needed. Maybe more than one opinion. Some Lawyers aren’t very good. Seen it a few times.

 

I thought about my wife to be a part of my corporation but decided not to.
1. Her salary would by subject to additional payroll taxes. It is not like there is ever too much revenue to escape from by using her.
2. In case of any legal issues of even the hardest to predict nature, her not being a part of the corporation, would absolve her from any liabilities.

 

Agreed ^^^. If you and your wife get along and share the money being made by the truck no need to overcomplicate things IMO.