- Thread starter
- #11
samantha91
New Member
- 8
. Wow I didn't realize there wasn't any liability protection. So for those who didn't incorporate but registered as a DBA, is that the norm for a beginner?This is not legal advice. However, why incorporate? There is NO liability protection for incorporating or forming an LLC for your activities. That's why you get licensed... to show that you are liable for your work. The advantages of incorporating/LLC are: 1) tax advantages 2) a marketing name (but you can do a DBA or "Fictitious Name Statement" and have it filed with your state) 3) business continuation In short, you're putting the cart before the horse. Get started and get going. Get some sales under your belt and make sure this is right for you. Keep meticulous records and then get the advice of a CPA &/or attorney in your state.
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. Okay my only concern is that I want to open a business account when I start collecting premiums and not have it go into my personal bank account. I want the two separate and figured forming an corporation would be easier since I'll be focusing any free time to selling.Damn, but you've got nice weather. I'd still recommend the OP get the LLC...you either commit to a business or you don't. Those that don't fully commit are usually the ones that wash out. It also helps to have a little 'pain' when starting a new business. It makes you hungry...again...IMO