Should I get a DBA?
Getting a DBA or "doing business as", also called an assumed name, is a quick and easy way to get started in business. You can take your DBA certificate to the bank and open a bank account with the business name. This will let you accept payment that is written to your business name rather than your personal name. You can still recieve payment to your personal name when you have a DBA, so it gives you some options. Do your research when choosing the best business entity to use.
Business Entity Video.
Choosing The Right Entity For My Business - Funny home videos are a click away
Looking for a definitive guide on which business entity to form under? Read this Guide.
Self employed, one person businesses, many times use a DBA or an assumed name. It looks more professional to use a DBA.
Should I Become and LLC?
LLC or Limited Liability Company is a business entity that is common among partnerships. It allows you to limit your liability in the company to assets you name in the formation. Forming an LLC has the benefit of separating your personal assets. Keep in mind when it comes down to it, most loans, lines of credit and other business concepts require a personal guarantee, and the Limited Liability can lose the value you may think it has.
George Monaco has expert knowledge in the business entity field and more importantly, he has first hand knowledge, having owned operated under each entity at one time or another. Save your self a fair amount of time and difinately several hundred dollars, Read his Report.
Should I Incorporate?
Should you form a Corporation? Creating an Inc. or incorporating creates a separate business entity. Actually a corporation is a lot like a person. You would be acting on behalf of the corporation. Deciding to incorporate is best done with the help of an attorney. There are specific steps to incorporating and paper that need to be filed for incorporation. There are different tax rules for corporations, check with a qualified CPA before you decide to incorporate. You can incorporate for free, the cost are minimal. You will need a board of directors and need to name those directors when you incorporate. Do your due diligence when deciding on the best business entity for your business, consult with a CPA.
Should I form an S-Corp?
S-corps are corporations that are common among personal businesses. A business that is owned and operated by one person can form a sub chapter corporation to protect personal assets. There are some tricky tax ideas with an s corp. Many people who use an LLC could also use an S-Corp, again check with an attorney before you create an S-Corp. Also for any business entity it is a good ideas to consult an tax accountant. Good luck with your small business start up idea.
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