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form a firm or not?

Started by wzhang18, January 11, 2019, 08:00:44 PM

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Hi, I learned that forming a firm can have many advantages (e.g. tax). I wonder if I create a blog or a youtube channel, should I create a firm for it? What are the pros and cons? Thanks.
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Depends how serious you are imo. If you are brand new and haven't generated any income it's easiest to treat it like a hobby first and you can file a schedule C as a sole proprietor if you start earning. If you are able to start generating regular income and plan on putting in a lot of time for the long term then forming a corporation becomes way more worth the time, setup, maintenance and liability protection.


I agree with sfpf. Forming a business and maintaining it can be time consuming and also costs money. Give yourself a chance to try things out first like a hobby and once you pick up steam and are dedicated to working on your projects long term, then consider incorporating.