Quote Quoting flyingron
View Post
You change your job or start a new business (even if it is a corporation or LLC) you should report it. If you have an attorney, allow him to handle it (why you aren't asking him instead of poking around here in that case I do not know). If you did this without an attorney, notify the trustee. The trustee may wish to petitition the court to change the plan in light of you changing the situation. Understand the trustee represents the creditors that you're screwing over, not your interests. It makes no real difference if you work as a sole proprietor, dredge up some dormant LLC/Corporation you have, or create a new one.
Thanks for the reply.
I'm asking here in the Expert Law forum because I prefer to do as much research as possible and be prepared before I bring an issue to my attorney. If it's something that can't be done or will be more trouble than it's worth, I'd rather not waste my money and my lawyer's time by scheduling a meeting to discuss it.

If anyone knows if it is allowable to start another business, specifically a c corp as a separate tax entity where I would be paid a salary, I would appreciate discusion on the pros/cons of that.
I am aware that I need to report my income, as I intend to do. My current active LLC is taxed as a pass-through entity and the profits are entirely taxed under my personal taxes. A c corp is not. I have questions regarding if I am required to report profit/loss of a c corp, which is a separate tax entity and would not be part of my income.