I am an artist (video effects) and someone has commissioned a project from me for $20,000. Half of the cost will be spent outsourcing a VFX company to pre-process the footage before I work on it, leaving me with ~$10k payment/profit. I am not a business and I'm not sure if more projects on this scale will come my way in the future, so I'm not sure if I should handle this as a one-time sole proprietorship deal, or if I should register an LLC and handle all of the money that way. I am in California, and there is an $800/year fee for LLCs. My main concern is how to cash a $20,000 check (actually 2 checks for $10,000. 50% up front, and 50% upon completion) and handle it properly so that I don't have a huge surprise next year at tax time. I hope I have provided enough info, but please let me know if you need more. Thank you
Submitted April 30, 2019 at 10:43AM by Pablo_Picardo http://bit.ly/2XVeC6c
