ie: if you're making $100/mo (talk to your tax advisor), but if you're clearly making $3k+/mo then you should have a plan to incorporate, file taxes, etc. (and should also be talking to your tax advisor).
It helps to cool my jets when my brain gets into "unicorn mode" ... do I have 30 people RIGHT NOW who will pay me $100/mo? Am I supporting 3 customers who are each paying me $1000/mo? Are 300 people beating down my door to pay me $10/mo?
...probably not... and if they were? Then you've got the beginnings of a company and should start with the paperwork!
If you're working with a business that wants to be writing checks to a business, then it sounds like you need to have your own business?
...but consider that you have ~$5k/yr "off the table" of your own business expenses, and I'd still stand by the suggestion that you'd want to have a clear revenue or expense plan that gets you to at least the minimum bar of $14.6k (ie: where $5k is 30% of your proposed income) before you get too excited about filing business paperwork.
However, we thought that starting a company would motivate us because we would be "commited" and this would demonstrate to each other that we were serious about it, given that we all had other jobs. And to this day, I still think it has some meaning.
ie: if you're making $100/mo (talk to your tax advisor), but if you're clearly making $3k+/mo then you should have a plan to incorporate, file taxes, etc. (and should also be talking to your tax advisor).
It helps to cool my jets when my brain gets into "unicorn mode" ... do I have 30 people RIGHT NOW who will pay me $100/mo? Am I supporting 3 customers who are each paying me $1000/mo? Are 300 people beating down my door to pay me $10/mo?
...probably not... and if they were? Then you've got the beginnings of a company and should start with the paperwork!