Ebay and other online sites

moremoneymoremoney subscriber Posts: 4
edited October 2007 in Business Planning
If you sell on Ebay, should you form a corporation? If not right away, how long should you wait? Should you wait until you have a secondary site or location up and running? I`ve been selling since 2001. Too many questions huh. Thanks for any input anyone can provide.                     Dave

Comments

  • moremoneymoremoney subscriber Posts: 4
    Thats what I wanted to know. I sell Mace with other personal security products and other things and I was told a Corp would protect me in the event of a lawsuit. I know insurance is important and I do have that. Just about every book you read says form a business structure. Then I read that "Sole Prop" are looked at harder by the IRS. I currently only do the eBay thing because my other site is being revamped.  Thanks.
  • LizardWisdomLizardWisdom subscriber Posts: 0
    If you have a business, you need to set up a business structure. Plain and simple.
    You need to run your business like a business, and really the only way to do this is by setting up some sort of a business structure. Yes, you can do it as a sole proprietor, but you are putting yourself out there liability wise (especially selling mace).
    The very first thing we did before starting to sell on eBay is set up an LLC. We used Legal Zoom, and they were quick and affordable.
    Don`t think that you shouldn`t form a business structure just because others say that they haven`t. Do you really want to risk it all to save a buck?LIzardWisdom10/15/2007 10:53 PM
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