How I built my second income online and tips to help you generate a second income too!

I Formed a Business Entity

  • SumoMe

After careful consideration, I decided to form a business entity to operate my various second income enterprises. Now, the choice wasn’t obvious since I am the sole owner of my company. The advantages of a business entity, or lack of disadvantages, are much less significant when there is only one owner of a business. To review the advantages and disadvantages, see my previous post “Should I Incorporate.” The primary reason I chose to use an entity is that it is much cleaner financially. Additionally, due to the type of entity I formed, there is the potential for significant tax advantages.

Next time, I’ll get into different ideas for generating a second income.

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