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Can my DBA actually own property??
Hendu3270
subscriber Posts: 1
Hello all. I`ve been searching on the internet and couldn`t find an answer but I did stumble upon you guys.
My question is this. I have a waterfowl guiding business that I`m starting up and have setup my DBA, (in Texas), and I have my tax certificate from the state. Can I transfer my boat into my company name? So that on the title to the boat it actually says my company name?
Thanks in advance for any help.
ChrisHendu32702008-10-10 14:48:51
My question is this. I have a waterfowl guiding business that I`m starting up and have setup my DBA, (in Texas), and I have my tax certificate from the state. Can I transfer my boat into my company name? So that on the title to the boat it actually says my company name?
Thanks in advance for any help.
ChrisHendu32702008-10-10 14:48:51
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Comments
I`m thinking. If you`re a Corp or LLC, I can see the benefit of doing this. but if you`re a sole-proprietor that means you`re using your Social Security as your TAX ID number. So if any one was to sue you; you`re boat would be theirs along with your business. Just because it would show a company name on the title doesn`t mean you don`t own it.
Now, if you`re a Corp or LLC, that means that your Corp would has it`s own TaxID number, separate from your social security, then it would be hard for someone to take your boat as long at they don`t pierce your corporate veil.