WE'VE MOVED!
We are proud to announce our NEW community destination. Engage with resident experts and fellow entrepreneurs, and learn everything you need to start your business. Check out the new home of StartupNation Community at startupnation.mn.co
We are proud to announce our NEW community destination. Engage with resident experts and fellow entrepreneurs, and learn everything you need to start your business. Check out the new home of StartupNation Community at startupnation.mn.co
Options
To be an LLC/Inc or not to be
wildstorm
subscriber Posts: 2
Ok currently I`m trying to secure funds for my home business. Its an online venture on eBay plus a local venture. All run out of my home. Currently I`m a DBA. Now I do not intend to hire anyone to work for me because this is primarily a one man band. So the question is, should I still be a DBA or should I incorporate? Is it easier, tax wise to be a DBA or do you get more benefits for being an LLC or Inc?
Sign In or Register to comment.
Comments
Incorporating can provide tax benefits, but generally not until you`re making some serious bucks.
Before forming an LLC, I would be sure though to check into your state`s tax laws. Some states (CA for instance) charge an entity-level tax. (Meaning you`re taxed like an SP for Federal purposes, but not for state purposes.)