I’m a drone pilot who just got his license (Part 107). I’ve done some shots and gigs for friends but as I am looking into possibly venturing out on my own as a business I keep getting told that it’d be good to be an LLC. Every time I look into it I just get inundated with technical terms. Just wanted someone to really simplify it for me so I can know where I stand. Thanks so much!
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A limited liability corporation is a way to have a layer of separation between you the person and your business. Say you are an electrician that just does electrical work without an LLC. Now say you do a job inccorectly and some faulty wiring causes someone’s house to burn down. That person can now sue you and you may wind up losing your own home and business to pay for the damages. Now the same scenario but you have an LLC. Only the assets that are involved in your company at risk. You business may go under but you will still have a home to go back to.
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