Starting in the U.S. - incorporate, or work "casually"?
Thread poster: Steven Battisti

Steven Battisti  Identity Verified
United States
Local time: 02:19
Japanese to English
Jul 30, 2004

Hello again,

I'm based in the U.S., and as I start to look at doing some very small part-time freelancing, I'm wondering about the administrative details.

What's the general sentiment? Should I immediately set up the foundation, in terms of keeping separate bank accounts, incorporating, or what have you? Or do many "small time" translators just handle everything casually?

Just interested to hear some thoughts.

Thanks,

Steve


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Kevin Fulton  Identity Verified
United States
Local time: 02:19
German to English
You can do it in stages Jul 30, 2004

For bookkeeping purposes, you might want to set up a separate checking account for starters. If you want to use a business name, you might have to file a DBA (doing business as) or assumed name with the county clerk (this may vary by state). In Michigan this costs a couple of dollars and requires some paperwork.

Once you have a steady income stream, you might want to consider incorporating (either a Sub-S corporation or LLC). A CPA can set this up for you, but it will cost a few hundred dollars for his/her time.

No matter what you do, save all your receipts and keep accurate records.

Kevin


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Daina Jauntirans  Identity Verified
Local time: 01:19
German to English
+ ...
You might not need to incorporate right away Jul 30, 2004

If you want to save some money and red tape at the beginning, you can work "casually" as a sole proprietor, but I would keep personal and business finances and records separate. It just makes it so much easier when tax time rolls around.

However, if you work as a sole proprietor, you can be liable with your personal assets if involved in a law suit. Separating personal and business assets is one good reason to eventually incorporate (or form an LLC).


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Henry Hinds  Identity Verified
United States
Local time: 00:19
English to Spanish
+ ...
Just start Jul 31, 2004

Don't complicate things, you don't have to. Just start working and use your own name as an individual. It's the best way to do it.

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Steven Battisti  Identity Verified
United States
Local time: 02:19
Japanese to English
TOPIC STARTER
Starting in the U.S. - incorporate, or work "casually"? Aug 2, 2004

Thanks all for your good suggestions!

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