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Should artists start an LLC or stay a Sole Proprietor for their art business?

This video is about the question on whether an artist should go from a sole proprietor to a Limited Liability Company(LLC)? 00:00 - Introductions 00:41 - Sole Proprietor for artists 01:10 - Paperwork and startup 01:39 - Reporting income 02:13 - No protection of assets 02:53 - Taxes as a Sole Proprietor 03:08 - Self Employment Tax 03:49 - Why to stay a Sole Proprietor 04:00 - Limited Liability Company 04:30 - Limited Liability 05:10 - Separating the personal and business 06:00 - Paperwork and Costs registering an LLC 06:38 - Taxes as an LLC 06:54 - S-Corp election 08:00 - LLC maintenance 09:20 - Conclusions 09:41 - Employer Identification Number 10:53 - Professional advice 11:19 - Outro Ask Questions. | Subscribe. | and Like! ▷Media Contact: ▷Website: http://www.IamDetour.com ▷Instagram: / detour303 ▷Email Address: [email protected] Close Caption: yt:cc=on

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