defyinggravityx
Junior Member
NY
I'm starting a gigging musical ensemble with about 6 other people. I didn't think I would ever have to incorporate or become an LLC but people have been telling me that if I'm going to start bringing in that much money I have to become an LLC. Just a few other details about myself: I would like to be a sole owner. I'm 20 and my parents still claim me on their taxes.
I'm leaning towards the LLC thing. Is that the right thing to do? I also don't fully understand what that would entail in terms of cost.
Thanks
I'm starting a gigging musical ensemble with about 6 other people. I didn't think I would ever have to incorporate or become an LLC but people have been telling me that if I'm going to start bringing in that much money I have to become an LLC. Just a few other details about myself: I would like to be a sole owner. I'm 20 and my parents still claim me on their taxes.
I'm leaning towards the LLC thing. Is that the right thing to do? I also don't fully understand what that would entail in terms of cost.
Thanks