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Why You Want an LLC For Your Side Hustle and How to Set It Up
All businesses — including writers — can benefit from this legal structure. Though the cost may exceed the benefit.
Are you starting up your own business? Have you taken on a side hustle? Are you now part of the Medium Partner Program and getting a few bucks a month?
All these potential money makers, whether they be big or small, are a step into the entrepreneurial world, and add on all kinds of complexities that the standard W-2 employee position just doesn’t have.
One of the biggest starting questions is legal structure.
This alone can be a hairy issue. And a Google search is far from conclusive about the “best way” to go.
One popular option, though, is setting up an LLC. Unless you have some grand business scheme already cooked up, an LLC is a great place to start.
Let’s dig in to why this is likely the best option for you.
What Is an LLC?
You’ve likely heard of corporations and partnerships. If you’re a little more savvy in the business world you might have heard of S Corps and C Corps and Limited Partnerships and so on.
