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this post was submitted on 10 Jun 2024
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5x pay. Independent LLCs have all sorts of expenses, including taxes/marketing/accounting/etc.
Health insurance...
So much this. Health insurance is the primary reason I have a salaried position.
Yep. I've done exactly that. Something overlooked a lot of places is to actually start an LLC (it does cost a bit, especially if you're strapped) if you can because that protects you. If you screw something up by accident a company can either come after you personally or the business that employs you.
Simply having an LLC isn't enough- it's the separation of personal and business that enables protection. Until you have other employees, this is really hard to do/show.
If you're going to go this route, you should probably talk to an attorney anyway.
And an accountant, but yeah this is solid advice. It was definitely something I knew but didn't realize that it's harder than it looks back when I did it.