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Law Educator, Esq.
Law Educator, Esq., Attorney
Category: Business Law
Satisfied Customers: 114041
Experience:  All corporate law, including non-profits and charitable fraternal organizations.
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I am leaving a salaried position to become a freelance artist,

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I am leaving a salaried position to become a freelance artist, editor and consultant to the bead and jewelry-making industry. I will be making and selling both retail and wholesale, teaching for companies, and publishing books and videos for other companies. Do I need to set up as an LLC, if I operate under my own name? Do you suggest I operate under a different name? For many years I was freelance and never needed to do this. Thanks! Leslie
You should set up some business entity to protect yourself from personal liability for your business activities. The LLC is the perfect entity for something like this because it is a flow through tax entity, meaning the LLC does not pay tax and you claim profits/losses on your personal taxes and it is a much easier business entity to manage. As far as name, you can name it anything you like, even your own name as long as it has LLC in the title. The LLC prevents creditors or anyone from suing you personally for anything related to your business and prevents them from getting at your personal assets as long as you maintain a separate bank account in the name of the LLC and you get a separate tax id for the LLC.

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