<prompt> Human: Hi everyone,So I have a pretty steady corporate job w good benefits and all that. But for the last year, on the weekends and after work, Ive been writing and producing a true crime podcast series that a production company just picked up. The production company said any ad revenue well split 7030 in my favor. I have no idea how much money Ill make, but I just want to be prepared in case this thing takes off. My question is if I should startform an LLC or if I just do 1099? Im very clueless about what to do with that extra income besides build a nest egg and pay off some credit card debt. Thanks!  <response>: Theres no tax benefit to forming an LLC vs. not unless you make an S Corp or C Corp election, which it doesnt sound like would make much sense at this point.The only benefit to you at this point is potential legal protection. Whether or not you need this depends on the risks inherent in your business as well as how much wealth you have outside the business and how much wealth you have inside the business none at this point, among other factors. 