@dedalux

Over the past few months I started doing javascript development work and I’m trying to build projects for my portfolio. I’m working on a productivity tool that would have a paid tier for users and I’m not sure about the best practices for setting up this up for myself in terms of tax efficiency and ways to incorporate.

Right now it’s only me who works on this and I project a modest user base in the beginning with perhaps a few hundred dollars of revenues that I would like to expand ideally. I’m looking at services like Stripe which has an option for individuals without the need for incorporation.

Meanwhile I’d like to reach to a point where I can hire some people to develop with me and run operations if there’s more steady cash flow coming in. Fundraising is also of course an option on the table. I don’t foresee a lot of potential for legal liabilities with this project but I’d like to be personally protected. I’d Hence I think incorporation is inevitable down the road.

I’m not sure if I should incorporate as early as possible, since there is some costs associated with this. But if I were to do this, with US status, I am wondering what should I be looking for to ensure that I can run this well in the long run. If any nomads have had experience with the business side of a personal start-up project I’d love to hear your opinion and experiences.