LLC for side work?

Need an LLC just for real estate photography

  • Yes

    Votes: 7 100.0%
  • No

    Votes: 0 0.0%

  • Total voters
    7
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I'm having a hard time getting information on this and obviously I'm hoping the answer is 'no'. I've been thinking about getting my Part 107 and have been studying so that maybe I could do real estate aerial photos on the side for a little cash here and there. I'm not looking to make it a full time job but someone mentioned I might have to set up an LLC just to do it. Is this true? What about randomly doing videos for local businesses?
I'm in North Florida
 
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There's big difference between have to and should! There are considerable benefits to doing your Part 107 work under an LLC including expense deductions such as mileage, supplies, etc. Also, an LLC does offer some level of protection from liability lawsuits although some will be quick to point out that such protection may be less than one would hope for. Also, setting up a real company with suitable invoicing and bookkeeping just adds to the professional look of your operation.
The FAA could care less if you set one up. It boils down to what the laws are in your state, community. Here in Ohio, it isn't required, But I have one anyway.
 
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Thanks Richard. It sounds like something I should be open to, provided I find any level of "success". It would be a weekend thing at most.
The county I live in has already embedded one of my videos on their site (with my permission...and for free) and was curious if I'd be interested in putting in a bid for future projects for which they would own the rights too...as opposed to redirecting to my YouTube channel.
 
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The most important is the part 107 so you can charge w/o issues. The LLC is a nice to have only. I started as you, once in a while, now that I am doing once a week, I just opened a LLC. It is very simple in Fl, go to sunbiz.org and follow instructions. You don't need to pay for any intermediary. Just deal with Fl state.
 
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And with the LLC, go to the IRS and get an Employee Identification Number (EIN). That establishes you with them as a business as well so any business expense desductions kick in when you do your taxes. Don't remember right off hand, but it might be required as part of registering as an LLC. Doesn't hurt to have a 'real' company name on your business cards, email or webpage either
 
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You might also consider a sole proprietorship.

It doesn't have as many safeguards as an LLC, but it is cheaper to setup and maintain from year to year.

I'd still register for an EIN so you don't have to use your SS on W9s and other paperwork.
 
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Totally depends on your state but I had a conversation with my tax accountant and she pretty much pushed me towards sole proprietor. Unless you see having employees sometime in the near future...
 
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I chose LLC for two main reasons (and a lot of minor ones). One big reason was to protect my personal assets (to a large degree) in case I injure a pet or break something, or even cause some unforeseen financial loss (NOTE: Nobody Plans an Accident). The second big reason for me was that I wanted access to my earned money without formidable accounting diligence, and the ability to report on one tax filing package each year rather than separate and distinct forms for family and business. Hmmmm...I guess that is 3 reasons. Been using the same CPA for many years and he agrees. Obviously, it is up to you. Good luck.
 
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I've been self employed for over 10 years, and I've never needed an LLC. That was as a musician and artist. Now that I'm starting a commercial drone business I am working as an LLC mainly for the liability. There isn't much risk as a musician, but there could be with a drone. Last thing I need is to lose my house because I crashed into someone.
 
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I started my LLC earlier this month and agree with most here that it offers some protection. I just passed my Part 107 about 3 hours ago so now I'm legit...just waiting on my actual cert/card once I register on IACRA. I'm in the process of finding an insurance company the ensure my small business..camera equipment and drone. Spoke with one company and they do not currently insure drones..however they stated that they should be within the next few months. Either way, I'm glad I finally went ahead and did it. Feels good to be a small business owner.
 
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I'm down in Florida too and the answer is a definite yes. The good news is it's pretty simple nowadays. $135 per year and for the most part yours all set. Obviously there's more to it, but at the end of the day it's worth it for the amount of business you can, and likely will, take on if your work is good.
 
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I'm having a hard time getting information on this and obviously I'm hoping the answer is 'no'. I've been thinking about getting my Part 107 and have been studying so that maybe I could do real estate aerial photos on the side for a little cash here and there. I'm not looking to make it a full time job but someone mentioned I might have to set up an LLC just to do it. Is this true? What about randomly doing videos for local businesses?
I'm in North Florida

Definite yes.

It isn't complicated to set up and there are many protections as well as tax benefits.

The real question is: Are you doing this as a business - even a very small one - or something to earn pin money? If the latter, why bother, and if the former, might as well do it right.

Correctly set up, an LLC effectively allows you to conduct just about any kind of (legal) business.
 

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