Quote:
Originally Posted by jaekn
Uh, no.
Please do not incorporate unless you must. There are very stringent guidelines in terms of business organization and paperwork/records you must keep. You will also be taxes at the corporate level and the personal level for wages you pay yourself. I can't tell you how many times I've seen 1-2 person companies who incorporate and ruin themselves.
|
AMEN &
Thank you!!! Also, with a D.B.A vs LLC, to file a D.B.A is generally free and if you don't make any money, you don't make any money and file as such, with no penalties. However, with an LLC, you don't pay any money
upfront...
but it's different. You will be required to pay a huge fee the next year
just for having filed as such (and they're not going to tell you-they
assume you already know when you get the letter to pay them in the mail...) whether you make money..or you don't! It will come as a total shock, if you've never had to pay a fee with the state revenue for not making any money but If you file an LLC with your Secretary of the State...you
will be forced to cough up $250 (or more) fee!
It just makes no sense to me to file higher than a Doing Business As license, if it's not financially necessary. It could work against you, rather than
for you!