Business type? Are you an LLC? Sole Proprietor? Etc?

[sharse]

I did a search and didn't find a thread on this... sorry if it exists and I just missed it.

I'd love to know how you structured your business for tax purposes, and why you chose that way, if you wouldn't mind sharing. Thanks!

(I suppose this question applies only to photographers in the U.S.)

[Biomech]

I'm in the UK so I don't qualify for this thread lols
But anyway, I'm a Ltd Company

[jdepould]

Sole proprietor/1040 Schedule C.

If I wasn't working full-time, I'd probably do an LLC. The way my schedule/life is, I just don't have a ton of time to dedicate to freelancing, so for the limited amount of money involved, schedule c makes the most sense.

LLC. You're still taxed like an individual (i.e., the business profits are included in your declared income), but legally you and the business are separate entities. Supposedly, if you get sued, the business takes the hit, not you. In practice, I don't know how much this matters.

Someone once told me to have two LLCs...one has the equipment and one performs the service. That way if you get sued, the "service" company takes the hit, but has no assets so the lawsuit is pointless. Again, I don't know how much this really works in practice.

Either way, liability insurance is a good thing to have.