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Companies of all sizes have one thing in common: They all began as small businesses. Starting small<\/a> is the corner for those just getting off the ground. Learn about how to make that first hire, deal with all things administrative, and set yourself up for success.<\/em><\/p>\n\n\n\n Self-employment<\/a> is a great choice for people who want more flexibility, autonomy, and control in their work. But with that added freedom comes added responsibility and risk. Many people just starting out ask themselves common questions like \u201cWhat tax forms do I need to know about?\u201d and \u201cWhat legal risks do I face?\u201d<\/p>\n\n\n\n If you don\u2019t form a separate legal entity, the law and IRS will assume you\u2019re acting as a \u201csole proprietor<\/a>.\u201d While this doesn\u2019t require any work on your part to set up, it allows the government to assume that your business and personal assets<\/a> are all one, which can put you at increased legal risk.<\/p>\n\n\n\n As a result, lots of self-employed people form a Limited Liability Company<\/a>. An LLC gives you additional legal protection and reduces your liability. Here are some LLC pros and cons that should help you decide.<\/p>\n\n\n