Is there a "right" time of year to change from Sole Proprietor to an LLC?
I've been operating as a sole proprietor and using Schedule C for quite some time now, but am trying to do things more "correctly" and grow my business even it will still just be solely me. As I get my ducks in a row to convert to an LLC, I've been doing research on this but still a bit unclear on some things.
-Is it detrimental to change to an LLC in the middle of the year? -If it's still just me, can I just keep the LLC as my name and retain my existing EIN (I think yes)? -If I change the name from my name to a business name, do I then need a DBA and a new EIN? -Would the above result in filing taxes twice, once as a Sole Prop and once as my new LLC?
Thanks in advance!