From Side Hustle to Business
Turn your side gig into a real business. Entity types, EIN registration, business bank accounts, and the insurance you actually need.
“If you're still getting paid via Venmo with 'dinner money' as the memo, you don't have a business yet. You have an expensive hobby.”
What you'll learn
Choosing your business structure - LLC offers liability protection without the paperwork of an S-Corp. Sole prop is the simplest but exposes personal assets.
Getting your EIN is free from the IRS and takes 10 minutes. You need it before opening a business bank account.
Separate bank account = separate taxes. Don't commingle funds unless you enjoy forensic accounting at tax time.
General liability insurance ($300-600/yr) covers most freelance work. Errors & Omissions (E&O) for professional services. Ask your industry association for group rates.