Re:Don’t register your idea as a company
by sayemm on Sunday June 24, 2012 @05:48PM
(#4154330)
Any developer freelancing or working on random side-projects should have an LLC in place. You can't go wrong, all it takes is about $300 on http://legalzoom.com, but it covers you personally if your product/services ever gets into any trouble and provides tax advantages too.
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Re:Don’t register your idea as a company
by georgemcbay on Sunday June 24, 2012 @06:27PM
(#4154404)
I would agree for freelancing but not so much for side-projects, though this depends upon your state.
If you form an LLC in California (my state of residence) you are now on the hook for paying at least $800/yr in taxes even if the LLC never earns a dime of revenue. The theoretical amount of legal protection you get from an LLC here is not worth the cost, IMO, for simple non-profitable side-projects.
Re:Don’t register your idea as a company
by burntwater on Monday June 25, 2012 @01:34PM
(#4157570)
The "it's cheap to form an LLC" mantra is common, but not always correct. In NYC it costs well over $1,000, and can easily approach $1,500, because of "publication" requirements.