- Joined
- Apr 6, 2022
- Messages
- 38
Rep Bank
$450
$450
User Power: 118%
Looking into getting into freelance copywriting to be able to quit my current job, and help fund future projects. Been researching local As, trying to strike a balance between an accountant and a business Iawyer I can afford to work with, and that are worth working with. Kinda sketchy so far, especially since even with all the overtime I've been catching, I'm broke. So some questions for my fellow Canucks with relevant experience:
1 - how big a risk would it be to start as myself, without an LLC or anything? From the little I've gathered, I get that it exposes me to liability issues, but the small business accountants' quotes for opening an LLC & such is about in the $2K+ range. I'd much rather start hustling up some cash from clients, getting experience along the way, and save up doing that so I can start the LLC up. I'm especially curious how things I did as a sole proprietor would be treated if someone tried to sue me for them after I set up an LLC. Would I be protected, or would my personal assets still be at risk since whatever I'm being sued for was done before the business was an LLC?
2 - a Canadian billing foreign clients in their currency - how much of a pain in the a$$ is it? I figure being an online-only business, no point in limiting who I pitch - if a Brit has a gig for me and is paying in pounds sterling, why not take that? If I get a referral for a potential American client, why deny them my services? Anything I should keep in mind with all that?
3 - apart from taxes, anything I should keep in mind that might trip me up starting out? Some kind of special fee you need to write for folks in one province or whatever, or any other kind of BS you can think of.
Appreciate your time and advice.
1 - how big a risk would it be to start as myself, without an LLC or anything? From the little I've gathered, I get that it exposes me to liability issues, but the small business accountants' quotes for opening an LLC & such is about in the $2K+ range. I'd much rather start hustling up some cash from clients, getting experience along the way, and save up doing that so I can start the LLC up. I'm especially curious how things I did as a sole proprietor would be treated if someone tried to sue me for them after I set up an LLC. Would I be protected, or would my personal assets still be at risk since whatever I'm being sued for was done before the business was an LLC?
2 - a Canadian billing foreign clients in their currency - how much of a pain in the a$$ is it? I figure being an online-only business, no point in limiting who I pitch - if a Brit has a gig for me and is paying in pounds sterling, why not take that? If I get a referral for a potential American client, why deny them my services? Anything I should keep in mind with all that?
3 - apart from taxes, anything I should keep in mind that might trip me up starting out? Some kind of special fee you need to write for folks in one province or whatever, or any other kind of BS you can think of.
Appreciate your time and advice.
Dislike ads? Become a Fastlane member:
Subscribe today and surround yourself with winners and millionaire mentors, not those broke friends who only want to drink beer and play video games. :-)
Membership Required: Upgrade to Expose Nearly 1,000,000 Posts
Ready to Unleash the Millionaire Entrepreneur in You?
Become a member of the Fastlane Forum, the private community founded by best-selling author and multi-millionaire entrepreneur MJ DeMarco. Since 2007, MJ DeMarco has poured his heart and soul into the Fastlane Forum, helping entrepreneurs reclaim their time, win their financial freedom, and live their best life.
With more than 39,000 posts packed with insights, strategies, and advice, you’re not just a member—you’re stepping into MJ’s inner-circle, a place where you’ll never be left alone.
Become a member and gain immediate access to...
- Active Community: Ever join a community only to find it DEAD? Not at Fastlane! As you can see from our home page, life-changing content is posted dozens of times daily.
- Exclusive Insights: Direct access to MJ DeMarco’s daily contributions and wisdom.
- Powerful Networking Opportunities: Connect with a diverse group of successful entrepreneurs who can offer mentorship, collaboration, and opportunities.
- Proven Strategies: Learn from the best in the business, with actionable advice and strategies that can accelerate your success.
"You are the average of the five people you surround yourself with the most..."
Who are you surrounding yourself with? Surround yourself with millionaire success. Join Fastlane today!
Join Today