Freelance Work Business Setup

Summary

In New Jersey, you can freelance without a formal business entity. Operating as a sole proprietorship is simple, requiring no formal registration. If using a different name, register a DBA. Consider an LLC or corporation for liability protection and tax benefits.

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What is sole proprietorship
A sole proprietorship is the simplest business form where one individual owns and operates the business. Key features include:
- No formal registration required, just operate under your name.
- Owner receives all profits and is responsible for all debts and liabilities.
- Simplified tax filing, as business income is reported on personal tax returns.
Would you like more information on the potential benefits or drawbacks?