LLCs and Business Entities
If you’re going to get paid by brands (or clients!) you should BECOME AN OFFICIAL BUSINESS ENTITY FROM DAY ONE!
Prefacing this by saying that this is not legal or financial advice, these are just my experiences.
My hope is this will help guide you in conversations with the right experts (like @jacqi.law who helped me transform my LLC into now an S-Corp)!
Why I believe you need to be a business entity:
It offers a little more protection in how you work with brands (from contracts to submitting a W9 with something that isn’t your social security number)
You can better organize your business finances — and open a business checking account, which is also an essential
Once your PROFIT (money after deductions) is significant, an S-Corp makes sense to avoid the extra 15% self-employment tax
You take yourself and your business more seriously when you make it ~official~
Over on @influencewithimpact, I talked more in-depth about this and brought in Jacqi Law to add her ~legal expertise~ to the mix. Also, check out the reel I made with more info on this topic!
Second reminder: any responses I offer, will be from personal experience and not expertise. Always consult with professionals you trust before making a financial & legal decision.
(Though, trust me, opening an LLC can be a Google-able piece of cake in many states).
Ask me your questions about my experiences below!