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Subject Expert
If you’re serious about contracting/freelancing then you’ll register yourself. There’s the DIY method (http://llcuniversity.com), there’s a cheap pro route (http://zenbusiness.com or http://legalzoom.com), and then you have the 1:1 route (your local/personal lawyer or accountant). It’s pretty simple.. but definitely do your research first. My recommendation, always register yourself.
Yes liability insurance. $1M grade A is accepted for the most part.
Yes these are requirements for working with agencies or C2C.
🙏🙏🙏
Go professional - have a CPA advise on the advantages of an LLC with the additional tax filing. I’ve had an LLC in the past, and was more recently advised to stay sole proprietor. Your circumstances will vary depending on the state you live in, 1099 vs W2 freelance income, and whether you have business partners going in on the LLC.
What is the rationale to stay sole proprietor?
I’ve freelanced for over 10 years with large agencies and I never needed an LLC. Most big agencies hire you as a W2
Subject Expert
Original poster is trying to avoid that. You don’t have to accept W2 with agencies. (I know they say otherwise)
Is there a specific reason? (Ie, client wants LLC vendors only for C2C? You want to elect specific tax treatment? You need professional liability insurance?) Depending on how DIY-inclined you are, LLC setup (and getting professional liability insurance) isn't that terribly complicated. Usually most states have guides available online to walk you through the formation process. If you want to do a more elaborate tax setup so that you can pay yourself a salary and elect S-corp taxation status, for example, you may want to have an accountant help.
Yeah, mostly big shops (Publicis-owned)
I recommend using Legal Zoom to set up an LLC 💫