[Hidden-tech] LLC advice related to consulting

[Shel Horowitz]

Hi, Peter.

I am not an accountant and of course I'm not very familiar with your
situation, other than what you outlined. But I do feel a strong pull in the
direction of getting your own LLC. If for some reason your business is
going very different directions later, or if you and your wife go in
different directions, separating things out maybe an enormous chore and the
cause of great friction.

Also, depending on what kind of consulting you do, and especially if it's
stuff that doesn't generate a lot of liability, you may not need to
incorporate. As a marketing and profitability consultant, I have done just
fine as a sole proprietor since starting my business in 1981. But lives are
not at stake in my consulting, and I have no employees.



Shel Horowitz - "The Transformpreneur"(sm)
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On Fri, Oct 18, 2019, 8:31 PM Peter via Hidden-discuss <
hidden-discuss at lists.hidden-tech.net> wrote:

> Hi hidden-techers ,
>
> I’m an embedded software engineer by trade and I recently learned from my
> employer that, due to market difficulties, I’ll need to start looking for
> new work the middle of next year.
>
> I was talking to a friend and he recommended that I startup my own LLC and
> go the consulting route to “try before I buy” on any new job before I start
> full time, if possible.
>
> The likelihood of me actually doing that aside, here’s my question: my
> wife already has gone through the process to get an EIN/LLC for her art
> business.  Could the two of us use the same LLC ?
>
> If so, is that advisable, or should I create my own?
>
> If we did share the same one, I’d want to change the LLC company name from
> an art-themed one to something more generic.  Has anyone gone through this
> process?
>
> Having never consulted before, I’m pretty clueless as to all of these
> logistics.
>
> I’m interested in anyone’s thoughts or advice on any of the above.  I also
> recently started a relationship with a local tax accountant so I’ll likely
> talk to them about all this as well.
>
> Thanks in advance for your time and thoughtful responses!
>
> -Peter Sienkewicz
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