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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It’s a Limited Liability Corporation.
There are many ways you can form a business.
If you just do stuff as yourself, that’s a sole proprietorship. But you’re also personally liable for all business debts and other liabilities should something go wrong.
In an LLC, your personal assets are shielded from the business. So even if the business gets sued into oblivion, you won’t lose everything you personally own.
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