If you’re thinking about freelancing as a PR or marketing pro—or are suddenly faced with self-employment while you look for a full-time role—here are the nine things you need to do to set up your business.
The great news is that you can get most of the tasks done in day.
1. Legally set up your freelance business.
You can do this through a lawyer, but it’s easier and often less expensive to use an online service like Incorporate.com. There are several different types of business entities. The most common ones are: Sole Proprietor, LLC, Partnership, S-Corp, C-Corp and DBA (Doing Business As). Most freelancers register their business as an LLC.
2. Get a Federal Employer Identification Number (EIN).
This nine-digit number is assigned by the IRS to businesses for tax filing and reporting. Getting an EIN takes only a few minutes by going to this page on the IRS website.
3. Download a Federal W9 form.