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Originally Posted by Brian in VA
It looks fairly easy to set up an LLC (a few forms) but yearly fees etc. Is there a big benefit in funneling the money thru an LLC v just filing it on a 1099?
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Depending on your specific situation, an LLC (or LLC owned by an S-corp, etc.) might be worthwhile. Another benefit is asset protection and/or liability/loss mitigation. Although it doesn't take much to "pierce the corporate veil" these days, it can be a good insulator. You just have to make sure that if you set one up, you operate it as a business and keep everything separate from your "non-business" affairs/accounts/etc. Not rocket surgery, but takes a little more forethought/planning in some instances than others.