If I want to do the following:

  • Make a few big purchases (laptops, cars, etc)
  • Invest in public and private equities, cryptocurrency, NFTs

Will a vehicle (e.g. LLC) be useful to accomplish all of these things at once?

Can the sole purpose of this vehicle be generating income through investing and have tax write-offs for items such as laptops and cars (assuming I can prove that they are indeed relevant to the business).

  • 3
    useful for what? just taxes? you don't need an LLC to write off legitimate business expenses, and they don't magically make all expenses deductible.
    – D Stanley
    Nov 24 '21 at 0:09
  • I was referring to taxes only. I am currently working for somebody else so I don't know how I can write off my purchases?
    – Tinker
    Nov 24 '21 at 1:29
  • 5
    Two comments, meaning to be kind, but realistic - if your business is investing online, purchasing a car is probably not relevant to that and if you consider buying a laptop to be a “big” purchase, then you should probably wait until you’ve saved more start-up funding. Nov 24 '21 at 2:23

If you have a business, and the business has expenses, those are business expenses whether you're a sole proprietor or LLC or Corp or whatever. If you're a W2 employee you can't deduct expenses related to that job. If you're working as a 1099 contractor you're already a sole proprietor business and didn't realize it.

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