Can I Register An Umbrella Llc And Then Use That To Do Freelance Work And Also Start My E-commerce Site?
Is there anything that I should be aware of here? I want to make it easy for me to manage, something like MyName LLC and then use that on business cards and on my ecommerce site? your opinions?
If you want simple, start with a sole proprietorship. Very cheap to setup, no hassles with filing taxes, and simple. Since you are just starting, you can start slowly and use a simple legal structure
If you are starting to get a lot of freelance assignments and sales from your ecommerce site, then you can do an LLC
LLC is great if you need to protect your personal from business assets, particularly in cases where you are likely going to be sued. If you are not in a business where lawsuits thrown at you by customers is not likely, there’s no rush to start an LLC.
I agree with imisidro. I would recommend starting as a sole proprietorship.
When you become an LLC, you are taking on the appearance of a corporation. You have to pay more taxes, you have to have articles of incorporation, you have to have meticulous record keeping of your expenses, etc. As an LLC, you have the benefit of a ‘corporate shield’ that helps protect your personal assets in the event of a business lawsuit. I do not know how much you plan to sell online through your e-commerce site, but if you get a lot of customers and you are selling a lot or even later on develop e-commerce sites for others, this may be an option to consider down the road.
You *can* be a sole prop and use it on your business cards and e-commerce site, bottom line.
Good luck!
Lee