Becoming a business6 of 9For her freelance business, Kanarek created a limited liability company, or LLC, to ensure she had personal liability protection.With an LLC, owners have limited personal liability for the debts and actions of the company. It can protect your car and house should you get sued. It can cost $500 to $1,000, but it's worth it, Kanarek says.She recommends having an attorney create your LLC. "Anything having to do with the law or money, you want to do it professionally," she says. Related Articles:Cut home insurance costsOff-season travel savesMake a budget for savingHome insurance protectionRelated Links:Saving in the recessionIs virtual wallet for you?5 great second jobs11 'fallback' careers advertisement
For her freelance business, Kanarek created a limited liability company, or LLC, to ensure she had personal liability protection.
With an LLC, owners have limited personal liability for the debts and actions of the company. It can protect your car and house should you get sued. It can cost $500 to $1,000, but it's worth it, Kanarek says.
She recommends having an attorney create your LLC. "Anything having to do with the law or money, you want to do it professionally," she says.
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