You’ve solidified your idea for a business, you have a business plan, and you are ready to get started. First, though, you need to make sure you are protected.
Generally speaking, LLCs indeed have less paperwork, particularly because it doesn’t have to hold “annual meetings” of the directors and take meeting minutes.
Just as independent contractor taxes are applied on the basis that this is personal income, the same status is relevant if you generate income from an LLC as a sole owner.