Business Owners..

[AZST_bowhunter]

I need yalls advice/opinions. I am looking to start a side gig and am trying to decide if I should just go ahead and make an LLC or work through a DBA for a bit to see if it actually gets some decent business. In all reality, I don't see becoming rich from this business, just make some side cash and do something I would really like.

2nd question..
If I did a DBA, what can I do if someone decided to make a company with my name through the state?

[jbhunting39]

DBA is easier but no protection for suits.
LLC is more paperwork to set up but offers some protection for suits.


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[AZST_bowhunter]

DBA is easier but no protection for suits.
LLC is more paperwork to set up but offers some protection for suits.


Sent from my iPhone using Tapatalk

Is there any protection in name with a DBA?

[TKK]

Operating as a sole proprietorship should be fine - especially for a small or one person business -

A DBA is simple to do with the state if you decide to do so but I do not think it is necessary

https://www.nolo.com/legal-encyclopedia/limited-liability-protection-llcs-a-50-state-guide.html

[gingib]

I did this earlier this year. Made an LLC for my small company. Contact a CPA for guidance. $300 fee to the state, one time fee to create it and register with the state

Protects me and my partner from any lawsuits, as we don't expect to ever have over $5-10k in the account for some time

[Charles]

I need yalls advice/opinions. I am looking to start a side gig and am trying to decide if I should just go ahead and make an LLC or work through a DBA for a bit to see if it actually gets some decent business. In all reality, I don't see becoming rich from this business, just make some side cash and do something I would really like.

2nd question..
If I did a DBA, what can I do if someone decided to make a company with my name through the state?

Than why even do it? Owning and operating a business is a PITA. If you can't make good money why even **** around with it. Aim BIG win BIG.

If it ain't making much money who cares about the name?

To answer your question, you register your "assumed name" with the State and this "should" prevent someone from using your name.

What type of business should dictate DBA, LLC or even Inc.

[kcmarullo]

I went with a LLC myself.

[duckmanep]

really depends on what you will be doing and how much liability/risk of lawsuit is associated with doing it.

[Leemo]

LLC
Your asking for a red flag with the IRS with losses on your schedule C with a DBA

[jbhunting39]

Is there any protection in name with a DBA?

Not just the dba. I have an LLC for my oil and gas work and my son runs a dba off of my LLC for his lawn service. So we have protection that way. If u just file the dba, you have no protection. It is basically just filing an “fictitious name” thru the state so u can call it something other than your name.


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[AZST_bowhunter]

Than why even do it? Owning and operating a business is a PITA. If you can't make good money why even **** around with it. Aim BIG win BIG.

If it ain't making much money who cares about the name?

To answer your question, you register your "assumed name" with the State and this "should" prevent someone from using your name.

What type of business should dictate DBA, LLC or even Inc.

Its a hat company, I don't know how well it will do is the thing. Once I get the paperwork filed through the state and copyright my designs I will post them up here for some opinions. My market is outdoors-men. like I said, this is my side gig, i'm in line to take over my family business one day.

[texan4ut]

I use a DBA allows me to have a separate bank account under my DBA name which is my business account. I separate insurance in case of a lawsuit.

[SaintBlaise]

1. If you have to pay sales taxes, you will need an Occupational License through your county/city.
2. You may need to purchase Liability Insurance.
3. Plan on selling your hats in stores? You will need an EIN number. That's your federal tax id number. Don't lose the forms or the business type, you will need them in the future.
4. May need to get a bar code.
Most of these things are easy to get, retailers will expect that you have them.

[Burnadell]

I use a DBA allows me to have a separate bank account under my DBA name which is my business account. I separate insurance in case of a lawsuit.

Why would you separate your insurance?

[ken]

I wouldn't let setting up a LLC slow you down in starting your business. Also, having a LLC is extra paperwork. I know, I have 2.

It would probably easier to start as sole proprietor and buy enough liability insurance. If your business takes off you can always set up a LLC later.