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  1. #1
    SitePoint Guru SharifTK's Avatar
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    Home Business Questions

    Would it be logical for me to register my business that I run at home? Also, getting a business bank account, license, and DBA? I hope to one day grow this business past my home office. Just want some advice as if I should spend money to get this done.
    SK

  2. #2
    King of Paralysis by Analysis bronze trophy
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    If you're making a decent amount of money or want to protect your personal assets in the case of a lawsuit then yes it makes sense.

    If you've got no assets and no income then it probably doesn't.

    Make an appt with a CPA and they'll tell you based on your situation.

  3. #3
    googlicious graymatter bvarvel's Avatar
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    It is always a good idea to seperate your 'business' from your 'personal' accounts, but this in and of itself won't protect your assets in the least. Your best bet would be to speak with an attorney to determine how best to protect yourself from this litigious world of ours.

    In my case, an LLC was a large part of the equation. But forming these types of paper entities have legal and tax consequences that you should be aware of. A little bit of money up front can save you loads of headaches down the road. What's more - it's a business expense and as such is tax deductible.

  4. #4
    SitePoint Wizard bronze trophy Kailash Badu's Avatar
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    Apart from indemnifying you against possible liabilities (if it's going to be a LLC), having a business account, license, and brand name would lend more credibility to the business you are doing. So that would translate to more business in the future making it go from strength to strength. So if you are serious about it, go for it. However itís important to evaluate if the future revenue growth would offset the additional cost and overheads involved in setting up the business entity.


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