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Do I need an LLC for My Art Business? How About Sole Proprietorship?

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As a creative business owner, the last thing you want to think about is all the legal requirements around starting a business. This is part of a series of videos that will explain the tedious but necessary topic of how to legalize your business, hopefully in an easily digestible and engaging way ... while wearing loud retro windbreaker jackets. We're here to cut through all the noise and help you get started on selling your art online the right way.
In this video, Nam, a barred attorney in CA and husband to Cathy the artist, will talk about:
0:00 Intro and disclaimer
1:36 How serious are you about your business?
2:45 Tax implications and legal liabilities
3:24 Do I need a lawyer to do this?
4:07 Three ways to register your business (cheapest to most expensive and what we used)
5:04 How To Set Up a Business Entity
6:12 The difference between an LLC, Sole Proprietorship, Partnerships and Corporation
14:52 S-Corp
DISCLAIMER: This video is for informational purpose and entertainment (if you find this entertaining) only and should not be considered legal advice. Watching or commenting on this video does not and will not form an attorney-client relationship. Specific legal advice can be sought from an attorney in your state.
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Cathy is a self taught watercolor artist based in Los Angeles, CA. Easy Sunday Club was started by Cathy and her husband Nam and is a collection of Cathy's modern paintings, art prints, and baby/children's soft goods that showcase playful interpretations of subjects in her expressive painting style. Prior to art, Cathy got an MBA and worked in corporate for 10 years before rediscovering her creative side. Nam is an attorney. This channel is our way of giving back to the art community and covers Watercolor Tutorials, How To Videos, Product Reviews and the Business of Art.
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Shop: www.easysundayclub.com
Instagram: / easysundayclub
Facebook: / easysundayclub
Patreon: / easysundayclub
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Music: In French (Used w/ Artist Permission)
/ infrench

Опубликовано:

25 июл 2024

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Комментарии : 55

@mizushimma 2 года назад

So as someone who makes less than $5000 on my art per year I’m guessing I don’t need to worry about a business license yet? All of this info has been super helpful!

@baileyferguson 2 года назад

That was insanely helpful! Thank you for all your advice!!!!!!!

@ketk1420 2 года назад

Thank you so much. You did a good job explaining about LLC setup.

@gabrielle212 2 года назад

Thank you!! Such great explanations, super helpful!

@sherylpiche9878 2 года назад

Thanks for all you both do!

@Saldon-jm2id Месяц назад

Great video! Simple and easy to understand for newbies! Thanks so much!!

@jasminewaldo7045 3 года назад

THANK YOU. I’ve been looking for this info for a week now, glad I finally found it! 🌟

@EasySundayClub 3 года назад

Np, I’m glad you found what you were looking for!

@cass1dyadams 2 года назад

Thank you! This is the first video I found that actually talks about the business side of things!

@EasySundayClub 2 года назад

Glad you found it helpful!

@EasySundayClub 3 года назад

Did this video clarify some things for you? We know the law can be daunting and confusing. Stay tuned for rest of the series. Same guy, different windbreaker jacket.

@Verdad2024 3 года назад

You guys are awesome and good hearted people. Keep it up!!

@EasySundayClub 3 года назад

Thank u for the support and positivity sir!

@AhmedAldoori 3 года назад

Thanks for the info!

@EasySundayClub 3 года назад

: )

@noahsart873 3 года назад

Super helpful, like seriously, thank you for making this. Currently teaching art full time while trying to start my business on the side because of an influx of commissions. I was very intimidated by starting an LLC but this video calmed my nerves!

@EasySundayClub 3 года назад

Yes. Ask your accountant to help you out for the tax stuff but will be worth it!

@juandeleon8026 3 года назад

Exactly what I was looking for. Appreciate this

@EasySundayClub 3 года назад

You're welcome!

@nakeishabrown7934 3 года назад

I enjoyed this . It was sweet short and to the point. Nam: 'Cathy is the CEO so whatever she say goes'.Lol and "Lawyers are useless; asked Cathy". Thank you guys. Great vid

@EasySundayClub 3 года назад

Personal rules i live by Nakeisha: P - Nam

@chica418 3 года назад

Very informative, thank you!!!

@EasySundayClub 3 года назад

Thanks for test driving this vid for us!

@ITYWML 3 года назад

Power couple duo! Thank you for the insight and value given to the community.

@EasySundayClub 3 года назад

Hope it helped JK. What art stuff are u up to this week?

@ITYWML 3 года назад

@@EasySundayClub Thanks to you, I've taken your advice👍 to niche down and have a focused theme of work so I've started my own cute animals series. I'm on my 7th day. Thanks!

@EasySundayClub 3 года назад

Surreal to hear and exciting! Look fed to seeing your work : )

@ITYWML 3 года назад

@@EasySundayClub Thanks! Once I'm done with my series, I'll definitely share my work for you to see💓👍

@Artisticsoulsjourney 3 года назад

Great Information, thank you

@EasySundayClub 3 года назад

Your welcome. Be well!

@jeebsr11 3 года назад

Great information!

@EasySundayClub 3 года назад

Thank you!!!

@mollabolla00 3 года назад

Thank you!

@EasySundayClub 3 года назад

You bet!

@ellerali 3 года назад

This is great! Thank you! So it's time for me to renewal my DBA / Sellers Permit. Some people told me no i didn't need to because I am an LLC now, but while researching, it said if I plan on using my brand without the LLC attached, I needed to renew the DBA. Is that correct? Also, do I need to apply for another Sellers Permit with the LLC now, and cancel the one with the DBA? Thank you! This is so helpful for artists!

@EasySundayClub 3 года назад

One legal entity == one permit but check your state! For example if u have 10 nick names u would only have one driver’s license. Source: www.quora. Be com/Do-I-get-a-sellers-permit-under-my-legal-name-or-a-DBA . Re cancelling and re apply depends on state. Disclaimer: not legal advice :)

@prettywithsubstance 3 года назад

So helpfull , I appreciate you 🙌🏻 -new sub

@EasySundayClub 3 года назад

Thanks for the sub!

@sergiokays8132 2 года назад

hey! what would you recommend two co-artists who are collaborating on lots of work equally position themselves? should they start an LLC as well or work as a partnership first?thaks!

@samz9882 2 года назад

THANK YOU

@EasySundayClub 2 года назад

you’re welcome!

@kendallwojcik837 3 года назад

Thanks for this! I do leatherwork on the side and don't make much money yet but I want to protect the name of my business until I get bigger. Is it protected with sole proprietorship or should I do an llc to make sure no one can take that name?

@EasySundayClub 3 года назад

Check out our trademark video. It goes into your name

@lovenature3725 2 года назад

Do sole proprietors need to file quarterly taxes? And can they do tax write offs or is that only for LLC's +?

@annettemarie2076 2 года назад

Thank you so much. Just what I needed to know. My talents are Sketch Artist, Poet, Song Writer and Singer. An LLC is what I have in mind. Can I market all of these talents under one business?

@EasySundayClub 2 года назад

Yes!

@annettemarie2076 2 года назад

@@EasySundayClub Thank you for your reply.

@Elisaemg 3 года назад

I read somewhere that you still can do all of the tax write offs as a Proprietorship. Is that correct? Or do you get more and better write offs as a LLC? Also, if I start out as a Proprietorship is it easy for me to change it to an LLC later? Also.... do I have to have a business account for a bank account or can I use a seperate personal account. Lots of questions... I know. Thank you for this video and your channel. I subscribed. :)

@EasySundayClub 3 года назад

I've never had a proprietorship so actually not sure. Only have had an LLC and have worked with an accountant to make sure it was set up correctly to get the proper tax structure for our biz. Would recommend consulting with an accountant and if you feel comfortable with them have them set up your entity to be most beneficial to you. If you want to try out your biz first as a proprietorship before making that investment that is okay too :)

@teresapogorelec5362 3 года назад

Hi. Great video and advice. I paint here and there for clients but on my free time, I just got a bigger than usual order but the client wants to file a w9 form. It asks me for a Tax ID number but I currently don't have a TAX ID number for my business or an EIN because I usually just file my business taxes together with my personal one. Should I get an LLC and register my business with my state if I am not sure how well my business is going to do?

@EasySundayClub 3 года назад

If ur getting bigger would recommend u consult an accountant to set up ur biz entity to be most beneficial to u from tax perspective. If u are sole proprietor then ur tax id is ur ssn.

@teresapogorelec5362 3 года назад

@@EasySundayClub thank you so much