Hey Everyone-
This is to all of you out there who have started Corps or LLCs.
I just need some validation and advice.
In the next few weeks/month(s) I am planning on quitting my job. (An interactive designer at a very good firm in the city).
While setting up my fastlane biz, I will work as a freelance web designer to pay my bills.
I can work 3 days a week and make more in cash than I do as an employee, AFTER health insurance at $500/month. The other 2-4 days a week I will work on my fastlane business. I figure this way, even though I am still "slowlane" I can get accustomed to being truly self employed.
I also have 3 months of living expenses to support me, just in case I can't find steady work.
So the question is this-
If I set up a Corporation or LLC, can I have several sources of income from different fields?
ie: several web projects, buy and sell a couple cars/items, several fastlane products (some will sell a few and fail)
Or, will I have to set up separate entities for each?
Please answer if you have experience in this area!
Thanks everyone :smxF:
This is to all of you out there who have started Corps or LLCs.
I just need some validation and advice.
In the next few weeks/month(s) I am planning on quitting my job. (An interactive designer at a very good firm in the city).
While setting up my fastlane biz, I will work as a freelance web designer to pay my bills.
I can work 3 days a week and make more in cash than I do as an employee, AFTER health insurance at $500/month. The other 2-4 days a week I will work on my fastlane business. I figure this way, even though I am still "slowlane" I can get accustomed to being truly self employed.
I also have 3 months of living expenses to support me, just in case I can't find steady work.
So the question is this-
If I set up a Corporation or LLC, can I have several sources of income from different fields?
ie: several web projects, buy and sell a couple cars/items, several fastlane products (some will sell a few and fail)
Or, will I have to set up separate entities for each?
Please answer if you have experience in this area!
Thanks everyone :smxF:
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