LLCs are overrated for solopreneurs like me

Everyone pushes forming an LLC for liability protection, but I compared a $250 LLC filing in Ohio against just keeping good insurance for my freelance editing. The LLC added zero client trust and cost me $100 in annual fees versus a $500 policy that actually covers mistakes. Anyone else skip the LLC and just lean on solid contracts and insurance?

3 comments

3 Comments

park.aaron4d ago

Whoa, slow down. Is this really a huge decision worth losing sleep over?

margaretc428d ago

Hold up, wait - $100 a year for filing fees? That's it? I mean, maybe it's just me but here in California the annual LLC fee is like $800 on top of the initial filing. That's a whole different ballgame. I get why you'd skip it for that cheap though, your insurance route sounds way more practical for what you're doing.

michael8038d ago

Blind spots in your contracts when a real lawsuit hits, that insurance is gold though.