DBA, or LLC

[cheez avenger]

I read Tim prefers LLC. It's got more tax shelters, and more protection in general.

I'm no attorney, but doesn't an LLC have to be formed by 2 or more individuals?


-cheez avenger

[cartoonfan1983]

No, you don't have to. Not in North Carolina anyways. I was able to create my own LLC listing myself on all parts. It was very easy! I thought it would be harder for some reason.

[Webzu]

My friend is an atty and here is what she said...

I recommend that you do an LLC (which I would be happy to help you form). An LLC will give you a "liability shield", which protects any of your personal assets from liability. You can be the sole member of the LLC if you want, or you can have other members. If you're the sole member, you will be taxed like a sole proprietor (because it's a pass through entity) but also get liability protection. If you have more than one member, you'll be taxed like a partnership. Either way, there is no double tax (like with a C corp.).

On June 27th my business officially organized as an LLC company and it's just me. It was real easy. My atty friend did the paper work for me but she said it's easy to do it on your own just go to your state's sec of state website the forms are all there and you just pay the state filing fee ($100-300) depending on your state.

One thing that is important is to research the name you want to use before filing to make sure it isn't already registered or trademarked. I did deep searches in Google and at the PTO website. I searched for my business name and "trademark" "registered" etc.

[cheez avenger]

My friend is an atty and here is what she said...



On June 27th my business officially organized as an LLC company and it's just me. It was real easy. My atty friend did the paper work for me but she said it's easy to do it on your own just go to your state's sec of state website the forms are all there and you just pay the state filing fee ($100-300) depending on your state.

One thing that is important is to research the name you want to use before filing to make sure it isn't already registered or trademarked. I did deep searches in Google and at the PTO website. I searched for my business name and "trademark" "registered" etc.




Sweet! :D

I was already familiar with running a dba since I operated one before the work overload got to me. LLC was the one that was always more appealing, but I was afraid of teaming up with someone that didn't share the same vision.

I will look into it


Cheers!

-cheez avenger

[Vagabond]

Im glad this topic came up. Ive been debating forming a general LLC and then filing separate DBA's for different business ventures that I start a opposed to an LLC for each venture. I feel like come tax time it will be easier to file everything under 1 LLC.

i.e. Vagabond Enterprises, LLC > DBA Yada Yada >DBA Blah Blah instead of Yada Yada, LLC. and Blah Blah, LLC.

The main disadvantage is that a DBA doest give any protection to a name whereas an LLC provides some, although it still better to file a trademark.

anyone have any thoughts on this?

[cheez avenger]

Im glad this topic came up. Ive been debating forming a general LLC and then filing separate DBA's for different business ventures that I start a opposed to an LLC for each venture. I feel like come tax time it will be easier to file everything under 1 LLC.

i.e. Vagabond Enterprises, LLC > DBA Yada Yada >DBA Blah Blah instead of Yada Yada, LLC. and Blah Blah, LLC.

The main disadvantage is that a DBA doest give any protection to a name whereas an LLC provides some, although it still better to file a trademark.

anyone have any thoughts on this?


The trademark part seemed iffy. What would you trademark?

Tim mentions Kiss... They trademarked the Kiss logo, and the Kiss makeup characters.

If you sell a service, or concept I don't see trademarking it UNLESS you're going to license it. In that case you'd have to do your research and make sure you don't infringe on someone's existing copyright, or get permission.



Can someone clarify this for me?


-cheez avenger

[Vagabond]

Id trademark the name of my company and the name of my product. I'm not selling information or concepts, I'm selling an actual product.

I've done the research also and no one else owns the trademark to the name that i want to use.

[Bill]

So, if someone sets up an LLC as an umbrella corporation. Do they need to file DBA for different web-sites? Such as Vagabond Enterprises DBA www.backpacker.com?

[Webzu]

So, if someone sets up an LLC as an umbrella corporation. Do they need to file DBA for different web-sites? Such as Vagabond Enterprises DBA www.backpacker.com?

I don't do it that way. Each website rolls up to my LLC. I can have 100 websites and they're part of LLC.

[StefanAustria]

Filling up for a LLC (i think it's the american opposite to our european GmbH) is absolutely neccesary. I had an DBA (think thats our OEG) which lets you totally unprotected without an legal cloak.

Costed me 40.000,- ... Euros ...
that's around 50.000 USD

So please stay away from BDA, etc

For the Europeans in this forum: check if you want to found a company in UK (eg. a Ltd) or in US (LLC in Delaware for example) - you have the protection and starting a company is easy and cheap compared to some local restirictions like here in Austria where a GmbH needs ca. 15.000 cash.With some legal help from a specialist it's a snap. You can find them on the web. To start such a offshore company will cost you approximatly 800 Eur.

Sorry, for my english. It's not my mother tongue. But it will improve over time. Promised. :)

yours
Stefan

[jazzdrive3]

I don't do it that way. Each website rolls up to my LLC. I can have 100 websites and they're part of LLC.

Be careful with that. If you are doing business with your LLC, but under different names, many states require you file a DBA for your corporation for each one, or else you'll be in breach of law. Many cities' business licenses, which can also be required for home based businesses, will require a separate license for each name, and require that the DBA be registered with the County.

Also, its a little harder to get a merchant account without a formal DBA declaration. If you're just using Paypal, its not that big of an issue.

But the main thing is regulation compliance. Government sucks. :(

But that just means less competition, as every extra step is a place a potential competitor can stumble. Just make sure doesn't become a stumbling block for you.

[Webzu]

Be careful with that. If you are doing business with your LLC, but under different names, many states require you file a DBA for your corporation for each one, or else you'll be in breach of law. Many cities' business licenses, which can also be required for home based businesses, will require a separate license for each name, and require that the DBA be registered with the County.

Also, its a little harder to get a merchant account without a formal DBA declaration. If you're just using Paypal, its not that big of an issue.

But the main thing is regulation compliance. Government sucks. :(

But that just means less competition, as every extra step is a place a potential competitor can stumble. Just make sure doesn't become a stumbling block for you. I cleared it with my friend who is an attorney and did the LLC paperwork for me and my wife is a CPA and I got clear sailing as per my state and the feds but everyone should check with an atty or accountant of their own. :)

[jazzdrive3]

Well okay. Sounds like you've got your bases more than covered. :cool:

[turk]

Hello all,

There were a lot of replies. I didn't want to read all....

but DBA is Doing business As.

You can have multiple DBAs under 1 LLC.

LLC is corporation DBA is Doing Business As

I have 2 LLCs and some different businesses. and it appears like this

My,LLc DBA My company 1,
My,LLc DBA Hi there
My,LLc DBA distinctiveresults.com

Each company has their own "DBA" bank account and etc.

I have some rental units and didn't wanted to limit my liability that's why have multiple LLc.

I hope this helps.

[frank.cabrera@gmail.com]

I recently created an LLC and was advised by my friend who is lawyer to switch to a corp. anyone have any thoughts on this switch?

[jazzdrive3]

Don't switch, would be my first reaction. What were the reason your friend gave? I hope it was more than just personal preference.