Trailblazer04
Junior Member
What is the name of your state (only U.S. law)? New York
I'm looking to start a consulting business where I basically sell my time at an hourly rate, to provide technology consulting services for home and small businesses. I have been doing this for a few years on a personal level, but looking to expand and broaden my customer base. In speaking with a friend, he advised me that an LLC is not necessary in my case, since there is no more protection, but instead to register a DBA with the county clerk, get some errors and omissions insurance, and just do a schedule C for an income tax return, and that a Tax ID wouldn't be necessary.
Does this advice make sense? What are the Pros/Cons for doing the above vs an LLC.
I'm not sure of what my DBA name would be yet, or how it would work if I would at some point want to change it. Perhaps initially something like My Name dba ABC Consulting. Or is an LLC the best way to go?
As of right now I would be the only one providing services, working for myself, but would like to keep things flexible in case I ever would need to expand, and perhaps require the assistance of sub-contractors.
Thank you so much in advance for any advice.
I'm looking to start a consulting business where I basically sell my time at an hourly rate, to provide technology consulting services for home and small businesses. I have been doing this for a few years on a personal level, but looking to expand and broaden my customer base. In speaking with a friend, he advised me that an LLC is not necessary in my case, since there is no more protection, but instead to register a DBA with the county clerk, get some errors and omissions insurance, and just do a schedule C for an income tax return, and that a Tax ID wouldn't be necessary.
Does this advice make sense? What are the Pros/Cons for doing the above vs an LLC.
I'm not sure of what my DBA name would be yet, or how it would work if I would at some point want to change it. Perhaps initially something like My Name dba ABC Consulting. Or is an LLC the best way to go?
As of right now I would be the only one providing services, working for myself, but would like to keep things flexible in case I ever would need to expand, and perhaps require the assistance of sub-contractors.
Thank you so much in advance for any advice.