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Old 10-10-2014, 02:18 PM
 
903 posts, read 1,026,068 times
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Just form an Delaware LLC and register a doing business as (d/b/a) in your county. It only costs $125, requires less paperwork than a corporation and earnings are immune to state income tax unless you pay yourself a salary.
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Old 10-11-2014, 08:24 AM
 
795 posts, read 1,093,793 times
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Originally Posted by Anonymous725 View Post
Just form an Delaware LLC and register a doing business as (d/b/a) in your county. It only costs $125, requires less paperwork than a corporation and earnings are immune to state income tax unless you pay yourself a salary.
You end up paying much more... some places you have to form what is called an "foreign company" and pay on top of other fees.

I know, I checked into it... when registered with your local company, all protections of having a Delaware LLC goes out the window... for the small business owner at least.
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Old 10-20-2014, 03:20 PM
 
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Well if your in Delaware you could easily form a business. Good thing I got out of NJ.
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Old 10-25-2014, 11:03 PM
 
Location: Los Angeles
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The reason for forming an LLC is mainly for liability protection against a massive lawsuit (not a little small claims suit). Otherwise save yourself the expenses by just getting a DBA (doing business as _______). Who is gonna sue you for a lot of money? Probably nobody. Do you even have money to sue for? People don't sue unless you have money.

Keep in mind that you have to follow certain formalities in order to legally maintain an LLC. Separate phone line, separate bank account, board of directors meeting every 18 months usually, etc. That is just more expenses.
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Old 10-26-2014, 01:07 PM
 
8,029 posts, read 3,485,417 times
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Originally Posted by Big-Bucks View Post
The reason for forming an LLC is mainly for liability protection against a massive lawsuit (not a little small claims suit). Otherwise save yourself the expenses by just getting a DBA (doing business as _______). Who is gonna sue you for a lot of money? Probably nobody. Do you even have money to sue for? People don't sue unless you have money.

Keep in mind that you have to follow certain formalities in order to legally maintain an LLC. Separate phone line, separate bank account, board of directors meeting every 18 months usually, etc. That is just more expenses.
None of that is required for an LLC.
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Old 10-27-2014, 07:00 AM
 
Location: All Over
4,004 posts, read 4,973,623 times
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Quote:
Originally Posted by Big-Bucks View Post
The reason for forming an LLC is mainly for liability protection against a massive lawsuit (not a little small claims suit). Otherwise save yourself the expenses by just getting a DBA (doing business as _______). Who is gonna sue you for a lot of money? Probably nobody. Do you even have money to sue for? People don't sue unless you have money.

Keep in mind that you have to follow certain formalities in order to legally maintain an LLC. Separate phone line, separate bank account, board of directors meeting every 18 months usually, etc. That is just more expenses.
I bet most people who have lost their homes and entire lives probably said to themselves who's gonna sue me, probably nobody.

Even though it may seem like it will never happen even "businesses" like running a blog have been sued for giving bad advice or by someone who doesn't like what they say. Starting an LLC is pretty quick and easy and cheap as well. DOn't be lazy bit the bullet and set it up just incase.
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Old 10-27-2014, 07:02 AM
 
Location: All Over
4,004 posts, read 4,973,623 times
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Quote:
Originally Posted by Big-Bucks View Post
The reason for forming an LLC is mainly for liability protection against a massive lawsuit (not a little small claims suit). Otherwise save yourself the expenses by just getting a DBA (doing business as _______). Who is gonna sue you for a lot of money? Probably nobody. Do you even have money to sue for? People don't sue unless you have money.

Keep in mind that you have to follow certain formalities in order to legally maintain an LLC. Separate phone line, separate bank account, board of directors meeting every 18 months usually, etc. That is just more expenses.
I agree with accountphd, you do not have to do any of those things he said. If you wnat to be able to write off a businessline techincally it should be 100% for business otherwise you will need to figure out what percentage the phone is used for busines. As far as meetings and meeting notes thats for an SCorp or CCorp,not for an LLC. THats why people opt for an LLC because it's simpler than a Scorp. There are definately more tax benefits to an SCorp and you can pay yourself at a lower tax rates as you pay yourself some ordinary income and the rest I forget the word but like profits or whatever.
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