Tuesday, August 9, 2011

STEP 3 of 10: Determine The Legal Structure Of Your Business

There are three broad categories to being a business savvy freelance graphic designer and those are:

  1. Determining the Legal Structure of You Business
  2. Having the Proper Contracts in Place to Protect You and Your Work
  3. Limiting Liability
For now we will start with determining the legal structure of your business. Later we will dive into contracts and liability.

When starting your business, you must decide what form of business entity to establish. Your form of business determines the amount of regulatory paperwork you have to file, your personal liability regarding investments into your business, and the taxes you have to pay. The most common structure for contract freelancers is sole proprietorship. Business.gov has detailed information on the most common business structures.


 < Step 2: Creating A Business Plan
Step 4: Register A Business Name >

For questions on specific topics or if you would like more information on anything related to the above post please feel free to contact me and I will get back to you as soon as possible or if it is a FAQ I will create a new post :)

No comments:

Post a Comment