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Anonymous
09/27/19 at 4:52PM UTC
in
Career

Doing Business

So I want to start my own business but I’m not sure if I should register as a LLC or another form like DBA because the business will be my name. I also wanted to know if there was any way to conduct business without registering? Or maybe I’m just letting fear get in the way of me registering my business. Please help! Lol

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Robyn Wick
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736
HiEd Professional/PT Fitness Inst
09/30/19 at 6:36PM UTC
I work with several contractors who are Sole Propiertors as mentioned above. It may also be worth consulting with an accountant to see what kinds of tax benefits or pitfalls may come with different designations.
BansheeBailey
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918
Former law firm accountant, now retired.
09/27/19 at 7:09PM UTC
It may depend on the laws of the state in which you are principally doing business. Consult a local lawyer, maybe?
SShep
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410
Technical Writer
09/27/19 at 5:58PM UTC
Congrats on starting your own business! When it comes to formation, it really depends on the kind of business you are launching and the protections you may want / need. Tax structure varies by formation as well. If you are starting a side hustle while keeping your 9-to-5, the easiest method is to conduct yourself as a Sole Proprietor. You don't need to file separate taxes, but Barb is correct in that you'll want to set aside some of your earnings to give to the government. On the other hand, if you are launching something bigger and want to keep your personal and business earnings separate, while also protecting your personal assets, a LLC or C Corp could be the way to go. I recommend finding a small business group or Meetup nearby where you can learn more. My state has a great one that offers free resources and advice. Also check out this article: https://www.makechange.aspiration.com/articles/do-you-need-to-register-your-freelance-business
Anonymous
09/27/19 at 7:01PM UTC
Thank you!! I was going to SBA meetings in NYC they were free classes. I was going when I was unemployed because they only offered workhour classes. But now that I work, I don’t have the time to go. But thank you for the article!!
User deleted comment on 09/27/19 at 7PM UTC
Barb Hansen
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6.67k
Startup Product, Growth & Strategy
09/27/19 at 5:49PM UTC
I am not an accountant or a lawyer, so this advice is not verified. I think it depends on the business you are starting. If you are going to be a tech consultant/contractor and you want to see if there is a need for your work -- just start your business and accept checks in your own name AND save a percentage of your income for taxes. If you really start making money, then for tax reasons, you'll want to form an LLC. I worked for years as a tech consultant without a business license - my clients wrote checks to me in my name and I had to manage my taxes on the back end. I have also opened an LLC in the mid-2000s because my accountant advised that for tax reasons, it would be much better for me to become an employee of my LLC. I kept the LLC open for a few years and when I went back into the corporate work-force, I shut it down. If you are opening a store, then I think you have to have a business license, depending on local ordinances.
Anonymous
09/27/19 at 6:59PM UTC
I want to start a fashion line but I want to use my name as the business name. That’s my goal, so I’m not sure if registering is necessary.

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