Hello! First post. I could use some advice/guidance as I'm sure I'm not the first doc to address this.
I am currently working full-time, W2, etc. I was offered the opportunity for part-time 1099 consulting work, relatively small but steady monthly income. Mainly clinical, chart, med, protocol review done from the computer during my evenings/weekends. Is it worth it to set up a single-member LLC for this type of work? Is there really any risk of liability that setting up an LLC would necessarily protect me from?
I work in Texas, so setting up LLC will be $300 and yearly franchise tax paperwork (though the bill is $0 when revenue is below $1 million)
Anyone else deal with this issue in the past?
Thanks!
I am currently working full-time, W2, etc. I was offered the opportunity for part-time 1099 consulting work, relatively small but steady monthly income. Mainly clinical, chart, med, protocol review done from the computer during my evenings/weekends. Is it worth it to set up a single-member LLC for this type of work? Is there really any risk of liability that setting up an LLC would necessarily protect me from?
I work in Texas, so setting up LLC will be $300 and yearly franchise tax paperwork (though the bill is $0 when revenue is below $1 million)
Anyone else deal with this issue in the past?
Thanks!
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