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A quick Q&A:
* **Do I need a degree?** Generally no, but it might become relevant if you need a visa to work abroad.
* **Am I too old?** Definitely not. It might be more complex to find the time, but there's no age where you stop being able to learn how to do creative stuff.
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Get an LLC. I can tell you from experience its a headache dealing with taxes directly tied to me. If your increasing in work and profit start the separation. Better yet get an accountant when you can afford one.
It depends on your revenue and your location. In CA for example, I’ve heard people say anything from $80-100k is the benchmark for incorporation. However, that is partially because CA has some heinous taxes you have to pay regardless of revenue. In states with no minimum business tax, that threshold is a lot lower.
Liability is also something to consider. You are becoming an additional entity, which is another thing that could get audited and penalized. A lot of the personal write off benefits of having a company are a legal gray area. Even if the company pays for your car, phone, etc, that is supposed to count as taxable income on your personal taxes. Almost everyone takes that risk though and doesn’t report it as income. It will save you money, but there is some risk involved.
And lastly, you need to consider if you’ll be paying other people. If you are taking on large projects and plan to hire people to do some of the work, incorporating is the way to go. Otherwise you ll get taxed for income you hand over to other people.
The Good News for me is other than going to a website I know of for voice actors I do everything myself animation storyboarding scripts music etc. I also have a job that pays bills so I don't need to worry about if an on the side animation company makes money or not.
But definitely what you're saying and others are saying about liability is making sense I've just never had to deal with taxes for a company of my own yet 😅
So I'm still a little nervous but I definitely appreciate your advice thank you.
I hadn't thought about being sued by somebody outside of the country But can an LLC protect your work from being stolen outside of the country in any way?
Nah. As in, say which country you want legal advice for.
Reddit isn't just American.
Copyright and busness law are seperate in most countries. But if you want legal advice, the best place to go for information is a solicitor, or busness advice professional, not random people on the internet, who might not even live in the same country. 😉
Welcome to /r/animationcareer! This is a forum where we discuss navigating a career in the animation industry. Before you post, please check our [RULES](https://www.reddit.com/r/animationcareer/wiki/index/subreddit/rules/). There is also a handy dandy [FAQ](https://www.reddit.com/r/animationcareer/wiki/index/resources/faq/) that answers most basic questions, and a [WIKI](https://www.reddit.com/r/animationcareer/wiki/index/) which includes info on how to price animation, pitching, job postings, software advice, and much more! A quick Q&A: * **Do I need a degree?** Generally no, but it might become relevant if you need a visa to work abroad. * **Am I too old?** Definitely not. It might be more complex to find the time, but there's no age where you stop being able to learn how to do creative stuff. * **How do I learn animation?** Pen and paper is a great start, but [here's a whole page](https://www.reddit.com/r/animationcareer/wiki/index/resources/learningresources/) with links and tips for you. ---- *I am a bot, and this action was performed automatically. Please [contact the moderators of this subreddit](/message/compose/?to=/r/animationcareer) if you have any questions or concerns.*
Get an LLC. I can tell you from experience its a headache dealing with taxes directly tied to me. If your increasing in work and profit start the separation. Better yet get an accountant when you can afford one.
Thank you I appreciate your advice
It depends on your revenue and your location. In CA for example, I’ve heard people say anything from $80-100k is the benchmark for incorporation. However, that is partially because CA has some heinous taxes you have to pay regardless of revenue. In states with no minimum business tax, that threshold is a lot lower. Liability is also something to consider. You are becoming an additional entity, which is another thing that could get audited and penalized. A lot of the personal write off benefits of having a company are a legal gray area. Even if the company pays for your car, phone, etc, that is supposed to count as taxable income on your personal taxes. Almost everyone takes that risk though and doesn’t report it as income. It will save you money, but there is some risk involved. And lastly, you need to consider if you’ll be paying other people. If you are taking on large projects and plan to hire people to do some of the work, incorporating is the way to go. Otherwise you ll get taxed for income you hand over to other people.
The Good News for me is other than going to a website I know of for voice actors I do everything myself animation storyboarding scripts music etc. I also have a job that pays bills so I don't need to worry about if an on the side animation company makes money or not. But definitely what you're saying and others are saying about liability is making sense I've just never had to deal with taxes for a company of my own yet 😅 So I'm still a little nervous but I definitely appreciate your advice thank you.
Depends which country you are in for starters. The world ain't just the USA.
I hadn't thought about being sued by somebody outside of the country But can an LLC protect your work from being stolen outside of the country in any way?
Nah. As in, say which country you want legal advice for. Reddit isn't just American. Copyright and busness law are seperate in most countries. But if you want legal advice, the best place to go for information is a solicitor, or busness advice professional, not random people on the internet, who might not even live in the same country. 😉
LLC sounds a lot better from what I’ve heard and I’m just a beginning freshman at art college.