Mark Kohler recommends forming an LLC for handyman side businesses to limit liability. Setup costs run roughly $500 with a paralegal, or about $800 if you add his firm's one-hour tax consultation.
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Howard says, how should I. What should I set up for a handyman business? Great question, everybody. Remember, we go back to our trifecta. If you're doing a little handyman business on the side, I think you've got liability exposure. Howard, anybody out there, if you're selling a product, a service, you're doing some catering, you've got a little landscaping business, you're doing a food truck. You may not make a ton of money at it, but if someone got hurt when you were out on a job, think of that, Howard. You're doing a handyman project and the floors wet. There's some grease, some oil, a ladder, and someone comes by and trips and falls. You want protection. So most side hustles, I want you to run them in a little llc. That's a great little fit. And get your bank account, get your ein going. We set up LLC in all 50 states in the country for 500 bucks. Now, by the way, I should back up. The average is 500. It's $400, plus your filing fee. So it could be a little less than 500. A little more. You work with a paralegal. That's done. So it could be very, very affordable. If you want an hour with a tax attorney on the phone with you, planning your big picture, you get a whole hour. You can talk about super bowl or whatever you want. We charge 800 bucks so you can get a real attorney focused on you as a client of a real law firm. No online, weird service. So it can be very affordable. Howard, I'm not. This is not an infomercial. But I want all of you to know that it doesn't have to be overwhelming. So any sort of small side hustle, side gig, I would go with an llc. You could start with a sole proprietorship, no llc, or no corp, see how it goes, and then jump into that llc.