Starting an LLC in Connecticut as a retiree offers exciting opportunities, but understanding the tax implications is crucial. This guide will help you navigate federal and Connecticut-specific tax requirements, maximize deductions, and avoid common pitfalls to ensure a financially sound venture in 2026. Let Lovie handle the complexities so you can focus on your encore career.
As a single-member LLC in Connecticut, your business income is typically treated as pass-through income. This means the profits are taxed at your individual income tax rate, avoiding double taxation. However, you'll also be subject to self-employment taxes. Understanding the interplay between your LLC income, Social Security benefits, and other retirement income is key to effective tax planning.
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