Is Incorporating Worth It?

A record number of Americans left the traditional nine-to-five workforce this year, and as their side hustles transform into their primary jobs, many are wondering if they should take the next step in legitimizing their business by forming an LLC.  

Images of white picket fences, packed lunches, and a sturdy briefcase dominate our perceptions of what work is supposed to look like, and has for the past seventy years.

59 million Americans freelanced in 2021, a number which represents 36% of the workforce, reports Upwork, the popular freelancing platform. 

Taking Career Ownership to the Next Level

The first step to forming a Single Member LLC (SMLLC) is to submit Articles of Organization. Once incorporated, the LLC can own property, be sued and sue others, manage bank accounts, borrow funds, and hire workers. 

Creating Space Between You and Your Busine

If you’re just starting out as a freelancer, don’t have the money to spend on incorporating, and are working with relatively low liability risk, then it might be more prudent not to form an LLC.

Let’s Talk About Cost

The administrative fees might also be a concern. What a freelancer also has to be weary of is how you will be seen in the eyes of the law after incorporating.  

How the law treats corporations is distinctly different from how they treat individuals. In fact, you have more protection as an individual. 

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