LLC no, but I believe you can have the equivalent of a Limited Liability Partnership in Canada.Sam_Scholten wrote: Thu May 27, 2021 10:00 am However, I just looked it up and there's no national or provincial equivalent to an LLC in Canada, but there is for a sole proprietorship.
TL/DR: This is a question probably best left to a CPA
Yeah, if you own your home owners ins should be fine. I will say if you rent, you should have renters insurance of some kind, studio or not. Amazed at how many people that rent don't have insurance. It's crazy cheap.
I like this option as well because it means I don't have to do anythingelisha wiesner wrote: Tue Jun 01, 2021 3:28 pm I have a decent basement studio. Nothing fancy but it's totally fine. I have recorded a bunch of stuff here for a bunch of different people. Shortly before the pandemic I decided that I was no longer going to record people that were't legit friends or my own bands but before that decision, I would somewhat regularly record bands here. I've never done anything in terns of being official. No website, no LLC, no write offs, no insurance outside of my homeowners policy, no studio name, no anything else.
It has some advantages, this being the main one.Mason wrote: Wed Jun 02, 2021 11:21 am
I like this option as well because it means I don't have to do anything
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