Step-by-step guide to become an official creator business and get time back, so you can focus on creating.
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From banking to bookkeeping and community, Juice is your personal financial partner. Take the first step and let our Juice experts walk you through the process of being a creator business.
Schedule a callStarting a creator business? Choose a sole proprietorship for simplicity, LLC for liability protection or S-Corp for a mix of both.
Sole Proprietorship: The one-person show
Picture yourself as the star of your own show - that's a sole proprietorship. You're in charge of everything. It's a business owned and operated by one person, with no legal separation between you and the business. It's the simplest way to run your own gig. If you're going solo without a partner, this is the way to go.
LLC: Your personal shield
If you want to protect your personal stuff from business problems, think about an LLC. It's the most basic corporation protecting your assets from any business liabilities. Just remember, there are yearly fees.
S-Corp: When your business grows
Lastly, there's the S-Corp. It’s like a mix of protection and better for taxes than an LLC. But it takes more time and money to set up.
So how do you choose? If you’re still growing your business, a sole proprietorship may make more sense. If you have personal assets or if you are doing brand deals, events or launching products, you may be exposed to more liability, and in that case, an LLC may be better suited for you. If you’re making serious money, consider an S-Corp.
After establishing your business entity, you can further enhance your legal framework. Think Employer Identification Number (EIN) and trademark registration.
The next move is establishing a business banking account.
So, what's a business banking account? It's a toolkit designed for businesses. But here's the twist: creators have unique needs. You need invoicing, payments, expense tracking, analytics and tax ease. That's where business banking comes in – all your money in one place, making your life easier.
Here’s the key to business banking: separate your personal finances from your business finances.
So, what’re the benefits of business banking?
If you’re dealing with money coming in and going out, having one place to keep track of it is super important. This helps you spend money smarter.
Knowing how much you're making and spending is really handy for doing taxes. You can pay less in taxes, avoid missing deductions and skip extra tax prep fees.
You can receive rewards and cashback on everyday purchases with Creative Juice's debit card.
Create a banking partnership with a company that understands your creator business. A trusted financial partner can help you with taxes, community and financing for business growth.
Creator businesses have distinct needs, demanding a one-stop-shop solution for invoicing, banking, expense tracking and tax ease.
Once you've established the groundwork for your business, focusing on growth tools should become your next priority. Luckily, your Juice banking account provides a customized suite of tools designed just for you.
Seamlessly generate and schedule invoices. No more chasing down overdue brand payments.
Manage and pay your contractors all in one place with our 1099 and W-9 IRS-compliant tools.
Short-term, flexible funding on your terms. You always stay in full control of your content.
Real-time metrics and insights on your cash flow.
Connect with a community of creators just like you and learn from industry experts from creator CPAs to talent managers and more.
Starting a creator business? Choose a sole proprietorship for simplicity, LLC for liability protection or S-Corp for a mix of both.
Sole Proprietorship: The one-person show
Picture yourself as the star of your own show - that's a sole proprietorship. You're in charge of everything. It's a business owned and operated by one person, with no legal separation between you and the business. It's the simplest way to run your own gig. If you're going solo without a partner, this is the way to go.
LLC: Your personal shield
If you want to protect your personal stuff from business problems, think about an LLC. It's the most basic corporation protecting your assets from any business liabilities. Just remember, there are yearly fees.
S-Corp: When your business grows
Lastly, there's the S-Corp. It’s like a mix of protection and better for taxes than an LLC. But it takes more time and money to set up.
So how do you choose? If you’re still growing your business, a sole proprietorship may make more sense. If you have personal assets or if you are doing brand deals, events or launching products, you may be exposed to more liability, and in that case, an LLC may be better suited for you. If you’re making serious money, consider an S-Corp.
After establishing your business entity, you can further enhance your legal framework. Think Employer Identification Number (EIN) and trademark registration.
The next move is establishing a business banking account.
So, what's a business banking account? As a creator you need a bank account for your business income You also need invoicing, payments, expense tracking, analytics and tax ease. That's where business banking comes in – all your money in one place, making your life easier.
Here’s the key to business banking: separate your personal finances from your business finances.
So, what’re the benefits of business banking?
If you’re dealing with money coming in and going out, having one place to keep track of it is super important. This helps you spend money smarter.
Knowing how much you're making and spending is really handy for doing taxes. You can pay less in taxes, avoid missing deductions and skip extra tax prep fees.
You can receive rewards and cashback on everyday purchases with Creative Juice's debit card.
Create a banking partnership with Juice, we understand your creator business. We are FDIC insured and can help you with taxes, community and financing for business growth.
Creator businesses have distinct needs, demanding a one-stop-shop solution for invoicing, banking, expense tracking and tax ease.
With your business banking account established, you can now start preparing for tax season.
Step 1: Bookkeeping
Track all your creator income and expenses in separate accounts. Juice makes this easy by automatically tracking your business, personal and mixed expenses via AI to save you time. This allows you to track your business expenses that you can deduct.
Pro tip: When thinking about what to write-off, think about what powers your business. This can include your cell phone bill, studio space, utilities, business entity costs, equipment and much more!
Step 2: Tax filing & prep
When tax season arrives, make a choice between filing your taxes yourself using Juice Books or opting for expert help. Each approach offers its own benefits, so decide based on your unique financial circumstance.
If you're looking for a creator-minded CPA, contact tax@getjuice.com to get in touch.
Once you've established the groundwork for your business, focusing on growth tools should become your next priority. Luckily, your Juice banking account provides a customized suite of tools designed just for you.
Seamlessly generate and schedule invoices. No more chasing down overdue brand payments.
Manage and pay your contractors all in one place with our 1099 and W-9 IRS-compliant tools.
Short-term, flexible funding on your terms. You always stay in full control of your content.
Real-time metrics and insights on your cash flow.
Connect with a community of creators just like you and learn from industry experts from creator CPAs to talent managers and more.
