Question About Getting My Business License

[napoleon83]

I asked this question in another thread but I think I might have posted it in the wrong place so I will post it here and see. I am new to this thread and so far love it. I am finding so much useful things. I do have a question about getting a business license and starting my own agency. I just started with Aflac (and I am struggling) but I thought it would be away to get my license a nd learn a little. I want to start my own agency and be a broker selling health/life and P&C for several different products. My question has to do with getting incorporated (s corp or c corp).

Once I do get incorporated will I my self get appointed with different companies or will I have to get appointed under my business name and tax id number. I am kinda confused on how it all works. I originally thought about getting the corporation and paying my self as an employee on a w2. If I did that I would think the commissions as to come to the business and not my self or my personal social.
When it comes to E&O insurance will I personally need the insurance or will I have to get it under the business name?
I am still new to this whole thing and trying to learn as much as I can. Thanks for all the help.
Can someone please help me make since of this all.

 

[xrac]

I wouldn't worry about any of that at this point in time. I would concentrate on selling. Get with a good FMO until you learn more than you know now.

 

[b61mack]

Slow down, stop spending money, you don't need a corporation. it is a waste of money.

 

[napoleon83]

So I do not have to be incorporated or have a business license to get appointed with other companies then?

 

[xrac]

So I do not have to be incorporated or have a business license to get appointed with other companies then?

That is correct you don't need it.

 

[donamese]

The appointments can be on you. If you get a large downline force and want to incorporate at that time then you can do it then. Then you will simply re-appoint as a company...you can either keep both appointments or cancel the individual one. Until you have a full book of business and a successful downline group, it is pointless to worry about.

 

[DHK]

If you're looking to market your services using a business name, you can simply file a DBA with your state's DOI.

 

[napoleon83]

Wow looks like I do have a lot to learn. I figured I would have had to get a business license to do more then what I am doing. So things can be easier to get started it looks like. Now I just need to start generating some business. Cold calls and not making money is no fun.

 

[Crabcake Johnny]

You need to check with your state. If you're "DBA" - doing business as...they might require that you file a trade name registration which you can do as a sole prop.

 

[Arthur Rudnick]

Your DBA can be anything that you want, as long as the name is not being used by another entity.

You can use:
DBA as "Napolean83 Agency" if you want.

But, you're self-employed and all commission checks can be in your own personal name.

As stated, at this time keep it simple.