DBA

RIDERED

RIDERED

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Who has a DBA (Doing Business As)

I'm looking to start my own contract business and wondering if I do a DBA our a LLC. As a new guy I'm trying to figure out the best way to go. 

Any insight would be great.

 
I've got a DBA. The first thing I did, file for an Assumed Name Certificate with the County. Make sure no one has that name. $15.00. You have to renew it every 10 years (In TX). I then Incorporated. S-Corp. By incorporating you protect yourself from any issues re: Legal problems etc.... It makes you an Employee of the Corp. Sue the Corporation go ahead. Without you the Corp isn't worth any money. All my paperwork has the DBA name on it. Not Corp Name. Cost quite a few Dollars to Incorporate but it was worth every penny. My Tax Returns Read: (Tron Enterprises, Inc. dba Superior Overhead Door) Peace  

 
ChEFF said:
I've got a DBA. The first thing I did, file for an Assumed Name Certificate with the County. Make sure no one has that name. $15.00. You have to renew it every 10 years (In TX). I then Incorporated. S-Corp. By incorporating you protect yourself from any issues re: Legal problems etc.... It makes you an Employee of the Corp. Sue the Corporation go ahead. Without you the Corp isn't worth any money. All my paperwork has the DBA name on it. Not Corp Name. Cost quite a few Dollars to Incorporate but it was worth every penny. My Tax Returns Read: (Tron Enterprises, Inc. dba Superior Overhead Door) Peace  
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This. The DBA just allows you to officially use a different name. Either Incorporate or form an LLC, then get the DBA to use the name you want your customers to see.

 
I did s corp also but there are advantages in llc's also, as well as other options. Best to talk with a cpa about what your intentions are and size you plan for your business to grow to. They can lead you with current laws and what might fit for you.

 
DBA / S corp here. I filed my "fictitious business name" 25 years ago so it was done by putting the name in a local paper for 2 weeks I'm sure it's different now lol. Definitely talk to your accountant to get led down the right path as @richard h suggested, most accountants will help you set up your corporation and file with the state for you. 

 
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LLC has a mandatory $800 fee to CA secretary of State every year.  It is kind of a pain in the ass, but I prefer a C corporation. You can set your own fiscal year, separate TIN, less liability (if done correctly). If you have a big year, you can pay yourself a lot or a little depending on your tax situation (say u sell a rental house and have a large capital gain), you can choose to not take any income out of the C corp that year.

 
I miss my S Corp, fricken company had to make me a full fledge employee.

 
Cookie said:
I miss my S Corp, fricken company had to make me a full fledge employee.
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 This. We, my wife and I were employees of the corporation and took a monthly salary. Also beneficial now on the other side with social security.  With an S corp if I remember correctly, at year end any and all profits rolled to personal income for taxation. Things may have changed as this was years ago.

 
richard h said:
 This. We, my wife and I were employees of the corporation and took a monthly salary. Also beneficial now on the other side with social security.  With an S corp if I remember correctly, at year end any and all profits rolled to personal income for taxation. Things may have changed as this was years ago.
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When I retire I will have another S Corp.  I don't plan to quit working completely, I will have a part time gig that pays 1099 (or self employeed)

Some wise man told me the Gov doesn't mess with S Corps because most politicians are set up as S Corps.

 
Thanks everyone for the insight. I have a meeting with my financial advisory next week. 

 
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