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I’ve been doing video production gigs here and there, working as a sole proprietor under just my name, and I’ve been thinking of forming a single-member LLC instead, so that I can take out business loans, have limited liability, etc.
I also produce music (which I’d like to publish online soon), do audiovisual work for events, and design graphics for T-shirts and other items, all as a sole proprietor under my own name.
Is it possible or advisable to form a single LLC that would include all of these services?
Would I be better off forming separate LLCs for my various services?
When you’re working professionally, eventually forming a corporation is a very good idea. Having your company incorporated gives you a number of protections and gives your co’ a certain level of credibility. Seriously research the different types of corporations available and then sit down with a lawyer who deals with such things to talk about which type will be best for you and your company. There are many more rules and potential pitfalls concerning running a corporation vice an unincorporated sole-proprietorship. Talking it over with a lawyer and setting up a business plan will let you know right away if you’re ready for that move.