Hello! I’m not in the right space to pay for a tax attorney or CPA. So I thought this would be the next best place to source insight.

I’m currently selling insurance as a broker. My colleagues that taught me this industry are making more than $160,000/yr. I’m good at my job, thankfully, and believe myself to be in the same level as them. The new upline offers commissions to be sent “individually” or to a “separate legal entity”. To my best understanding I am a W9 worker. I would like to save as much on taxes as I can legally. I have a variety of paper and physical assets. Maybe an LLC taxed as an S-corp will help me?

Should I be taxed as a separate legal entity? Or how should one go about it? I heard from a tax attorney in passing that everyone should have an LLC.