Online Business Benefits
How should I incorporate my business?
I own an online business that resells different products. It is not registered and is a private company run by me. (Meaning I do not want any shareholders, etc).
What would be the benefits of registering my business? What kind of business should I register it as? Inc, Corp, LLC? What is the difference between a DBA with these?
The only 2 reasons I want to register my business is to cover business expenses (computers) and look more professional. Help? Thanks.
It is already a business, although unincorporated. it is called a Sole Trader. Banks usually like the account to be titled: Joe Blogg Trading as XYZ. If you are the sole proprietor the company’s NET profit goes on your personal tax bill.You have personal unlimited liability, which is why many business get incorporated as a Limited Co. or LLP or LLC.
Sorry, talking a bit UK here but it must be similar in US. If it is a small company I wouldn’t worry about additional expense to incorporate, unless you are worried about personal liability.
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