Contractor Pro
Should I set up an LLC for a consulting job?
I am switching from a being a full time employee with my current employer to consulting with them as a contractor. I wanted to know what the pros and cons are with regard to setting up an LLC for myself. I am hoping to protect myself legally since I am no longer an employee, but I wondered what the tax ramifications are, etc.
Thanks.
Additionally, I’d be interested to hear the best places to incorporate.
I don’t believe that I am likely to be sued. However, I want to err strongly on the side of caution.
I would recommend getting an LLC for your business. An LLC will pretect your personal assets as well as your spouses(if you have one) personal assets in the case you were to get sued. The process is real simple. Just have someone else do it for you!! You should check out the site that I used to incorporate my baby clothes business. Ever since I made my business an LLC, I never have to worry about losing my new home because even if I were to get sued, no one could take my house!!
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