Many Independent Contractors (or 1099 workers) have the opportunity to convert from a Sole Proprietorship to a Single Member LLC. I'll explain WHY and HOW making to switch may be a great move to make in 2022.

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In this video, I will cover:
- The pros and cons of a sole proprietorship vs LLC
- Step-by-step, how to convert into an LLC as a sole proprietor
- & the Tax Treatment of a Single Member LLC

Timestamps
Intro (0:00)
Sole Proprietorship vs LLC (1:40)
Comparison of LLCs and Sole Proprietors (3:18)
Step #1 (5:15)
Step #2 (6:01)
Step #3 (6:50)
Step #4 (7:30)
Step #5 (8:33)
Step #6 (9:50)
Step #7 (10:34)
Step #8 (11:24)
Tax Treatment of a Single Member LLC(12:14)
BONUS (13:18)

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Disclaimer: The information provided in this video is for informational purposes only and is not meant to take the place of professional legal, accounting, or financial advice. If you have any legal questions about this video or the subjects discussed, or any other legal matter, you should consult with an attorney or tax professional in your jurisdiction (i.e. where you live).