Legitimizing Your Side Hustle: Is Incorporating Worth It?

With freelancing on the rise, many are wondering if they should incorporate their self-employment enterprises.  

“Freelancing offers professionals a chance to be in control of their careers in a way that cannot be matched by traditional employment,” says Upwork.

When deciding whether or not to take the next step with your side hustle, it is important to consider how you would organize your business from a legal perspective. 

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.

It creates space between your personal finances and business finances, which can also make filing your taxes less of a headache. 

And you will still be able to use popular tax filing services like Turbo Tax or H&R Block even if you have an entity.

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