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If you start working as a freelancer without forming an LLC or corporation, you’re automatically considered a sole proprietor. There are some tax and liability advantages for LLCs and S corporations, but they also require more fees and business tax forms. Each of your expenses will be automatically uploaded to your tax software.
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This will not only deal with problems for the younger generation to get onto the “ property ladder “, but may in time re-establish the multi-generation household with all it’s social benefits of care for the elderly, or supervision of children by grandparents, while the parent is in the “home-office&# earning a living.
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