Forum Discussion
valhalla360
Oct 23, 2021Navigator
weinstein_josh wrote:
First post here so thanks for any and all opinions/comments!
Long story short, I have the opportunity to sell my home and buy an RV to go travel full time while working in a virtual job. Timeframe is within the next 4-8 months. My employer is very open to the idea as we have clients nationally that need our attention, so I can plan my travel routes around our clients/needs. I have a few connections with good accountants (past employment) and have already begun opening discussions with them about how to arrange this to maximize expenses, taxes, income, etc
I have a meeting lined up on 10/25 to discuss more in depth, but thus far I have spoken to my FL accountant who suggested establishing a corporation (most likely S Corp) with a FL address and then approach my employer to discuss becoming a 1099 employee paid to my corporation.
My main questions and interest with this post center around others who may have done this and have some experience in the process as far as things to consider. Please feel free to comment and share if you have been in a similar situation or know others who may have done something like this.
Is your employer against you remaining an employee? That could simplify a lot of it unless you can legitimately claim a lot of expenses...be careful of the rules separating home and office.
As mentioned, if there is negligible liability, skipping the corp and just doing the 1099 is a simple solution. The question for your accountant should be what does a corp provide you.
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