I’m a recent college grad. I don’t have an EIN, what are the pros and cons of invoicing? I’m not sure if I want to be freelance long term and if the cost to set it up will be worth it.

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It’s free to get an EIN - as a freelancer who works dozens of jobs a year and fills out dozens of contracts, the upside is you don’t have to put your SS on a bunch of documents that are floating around who knows where.

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I’m also worried about getting an accountant and have so many questions! I can barely pay my rent.

I believe an EIN is free.

I paid 300$ to a tax attorney to set everything up. Now I have an S-Corp. If $300 is not worth it to you then maybe you should just be on payroll.

To answer the other half of your question - invoicing as a corporation is ALWAYS better. But not all agencies will let you do it. The advantage is you get the entire check with nothing taken out. So the tax money you’ll pay at the end of the year can make you money while you wait to file as opposed to giving the federal govt an interest free loan... which is what you’re doing when you pay taxes with each check before taxes are actually due April 15

Another advantage is you get more deductions being a corporation. Because this country thinks corporations are more important than people. 🤷🏻‍♂️

I would recommend full time starting out. Build your network. Build your portfolio. Build your career. Freelancing too early and you could miss out on a lot of the overall experience plus it’s usually the shittiest projects. Do it later and it gets juicier. Good luck!

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