Is an LLC required?

No, you can be a "sole proprietor" and just do business as yourself. LLC's are only for what their name implies - 'limited liability company' - in the case of a lawsuit or something like that, the LLC separates what you personally own (house, furniture, car, etc.) from what the company owns (could be nothing) - so that your personal things can't be touched in a lawsuit. In that sense it limits your liability. For tax purposes, it is a disregarded entity unless you opt to be taxed as a corporation via the Schedule C form, but that's a different story.

Also some wholesalers require a tax ID number which is why some LLC's are formed. Without an LLC, your tax ID is just your SSN.

Hope this helps.

I highly recommend an LLC. If in the unfortunate event a lawsuit comes about, everything you own is safe - only your business assets are at risk.

One thing to remember an LLC in and of itself not not protect your personal assets. There is lots of case law where an owner has been held personally accountable.

The key is always to run your business seperate from your personal life in all ways including but not limited to finances. If the government and courts see you and your business as not seperate it will not matter if you have an LLC or not.

Also if you are the sole employee it likely will provide little protection as they will claim you are personally responsible.

Always consult with a lawyer on how best to limit personal liability.
Anyone can get an LLC and they cost very little which is why the courts will at times "pierce the veil" of the LLC if the case merits it.

Talkto an accountant and a lawyer, but mostly an accountant that can help guide you in what is right for your situation. I recommend all the time to incorporate, but I'm not an accountant, and I get tax breaks that you might not benefit from yet.

You have a couple options.... go the sole prop way, llc, s corp or c corp. I doubt you would want to go c corp....

Anyway, do research and see what would be best for you. You can file for an EIN online to start building that separation.

There is only one right answer to your question...

GET PROFESSIONAL ADVICE... PERIOD.

So far in this thread you've received advice and
opinions that could cost you far more than paying
qualified professionals to advise you properly based
on your personal circumstances.

I'm certain these people mean well but they simply
don't know what they're talking about.

thanks for the responses and help my WF fam

Go for LLC as we are and as here every one is saying only your business not any personal things will be there.

I wouldn't seek legal advice on an internet forum.

That being said, one of the most important things in ANY "offline" or other consulting is one of the least discussed here.

There's this little thing called "E&O insurance". Errors and Omissions. This is an insurance policy that protects your business (and personal) assets in the event that you, or someone working for you (subcontractor, employee, outsourced) screws something up.

Should your pissed off client decide to ignore your limitation of liability clause in your contract (you DO have a contract, right? And your contract DOES have a limitation of liability clause, right?) and sue you for 100 times the amount of your contract engagement, an E&O policy will cover your liability.

Trust me, this does happen. And not because you necessarily screwed up all that badly, but because it's a way for a shyster business client to get money out of you. It's just business for some people, and unfortunately, rogue shyster clients don't run around with a neon sign flashing "I sue my vendors to get money!!"

This E&O thingy, of course, requires an actual business entity, etc...

So yeah, if you're doing anything relating to a client's sales, marketing, business operations, etc... you should probably consider not only an LLC, but an E&O policy.

with llc though, who do you get to be your partner?

A single person llc, is practicly the same as a "sole proprietor"