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Freelance to Founder
Sole–Proprietor or LLC?
Dec 28, 2023
In this podcast, the hosts discuss whether it's better to be a sole proprietor or form an LLC for a freelance business. They explore the financial implications and share testimonials from other freelancers. They also cover topics such as inbound sales, pricing strategies, social media marketing challenges, creating packages, and the benefits of forming an LLC. The podcast concludes with a discussion of juggling multiple projects and scaling a freelancing business.
48:16
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Quick takeaways
- Forming an LLC can provide tax benefits and limited liability protection for freelancers.
- Hiring employees or outsourcing work can free up time for client work and help grow the freelance business.
Deep dives
Benefits of Forming an LLC
Forming an LLC can provide numerous benefits, especially in terms of taxes and liability protection. As a 1099 freelancer, you may be subject to higher taxes, including self-employment tax. By forming an LLC, you can pay yourself a reasonable salary and reduce your tax burden. Additionally, an LLC offers limited liability protection, shielding your personal assets from business-related lawsuits and liabilities.
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Discover
highlights
Listen to the best highlights from the podcasts you love and dive into the full episode