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LLC business structure
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be covering the following five structures:
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Sole proprietorships
Partnerships
LLCs
Cooperatives
S Corporation
Many artists opt for an LLC business structure, which allows you to separate your personal and business assets. Your assets will not be divided.
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If you were to be sued for your business (say that someone slips and falls in your studio) then you'd be personally responsible. The assets of your personal would then be used to pay the costs.
the damages.
Artists - Sole Proprietorship
It's only you, your job and a vision. Technically, you are already a sole owner. This means your personal and business assets will be included as part of the overall.
Both are linked. Tax time is coming up, all the income you have earned from your art is included in your personal tax taxes. This means that the income you have earned through your work is included in your tax filings.
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