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Need advice on starting a business..

Discussion in 'Business & Tax Advice' started by AffiliateNinja, Aug 1, 2009.

  1. AffiliateNinja

    AffiliateNinja Junior Member

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    I've been affiliate marketing for 4 or 5 months now, and i've hit the "tipping point" where im finally making money.

    I dont have a business though, im just getting the money to myself. I would like to have a business that is getting this revenue b/c i think it would be beneficial.

    I'm looking for some advice as to how to start one and what i need to do. Also what type of benefits are there to being a business instead of just a person?
     
  2. killzone

    killzone Regular Member

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    You don't need an accountant in order to do this, you don't even need to buy a guide. Creating a business is relatively easy, you either file a DBA with your local County Clerks Office or you file articles of incorporation with the state. Then you apply for an EIN online and get it in seconds.

    Really simple process. Google and the legal/tax advice section here are your friends.
     
    • Thanks Thanks x 1
  3. AffiliateNinja

    AffiliateNinja Junior Member

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    i was talking to a buddy of mine and he said he got his LLC, not sure what that does tho
     
  4. delboud

    delboud Newbie

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    i was deating between a DBA and LLC but with the LLC it seperates your from your business so if someone wanted to sue it will be the business and not you so all your assets and stuff will be protected

    but

    in this business you wont need to worry about that so I would get a DBA and EIN
     
  5. AffiliateNinja

    AffiliateNinja Junior Member

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    whats a dba and ein
     
  6. cypionate

    cypionate Power Member

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    If you want to avoid the hassle and legwork checkout
    Code:
    http://www.bizfilings.com
    I just let them handle my business paperwork, filing, etc...

    Cyp
     
  7. brembo

    brembo Newbie

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    I personally like the benefits of LLCs. I may look to incorporation in the future, but for now the LLC works great for me :)
     
  8. Italian Hawk

    Italian Hawk Power Member

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    I'm at the point where I should be forming a business too. I'm assuming it would be beneficial in terms of what I pay in taxes?
     
  9. ifwearner

    ifwearner Regular Member

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    I've found through advice of my accountant that forming an s-corp is ideal in the way of taxation for smaller business owners. You pay yourself a salary and of course pay federal and SS tax on that, but anything after that is just federal/state no SS. I'm sure the bigger boys in the IM world will tell you C-Corp and expense basically all of your earnings to where you show little or no profit but its easier said than done. Best to talk to an accountant though initially, tell them what kind of figures you are dealing with and they can tell you what kind of entity would suit you best. Most first meetings with accountants are free or like $20. So its worth doing. If you can, get one that understands internet businesses at least a little rather than being amazed at how much you are making sitting at home in your underwear lol.
     
  10. andychheuy

    andychheuy Newbie

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    Just do it as it said above yourself! i also want to have a try!
    --------------------------------------------------------------
    http://www.kicksexpress.com
    http://www.dragonkicks.com
     
  11. delboud

    delboud Newbie

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    what benefits?
     
  12. Whisker

    Whisker Moderator Staff Member Moderator Premium Member

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    Limited liability.
     
  13. cookz4u

    cookz4u Newbie

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    I believe a LLC provides the same benefits a S-corp does.
     
  14. cookz4u

    cookz4u Newbie

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    I believe a LLC provides the same benefits a S-corp does.
     
  15. cookz4u

    cookz4u Newbie

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    I believe a LLC provides the same benefits a S-corp does.
     
  16. cookz4u

    cookz4u Newbie

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    I believe a LLC provides the same benefits a S-corp does.
     
  17. cookz4u

    cookz4u Newbie

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    I believe a LLC provides the same benefits a S-corp does.
     
  18. cookz4u

    cookz4u Newbie

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    I believe a LLC provides the same benefits a S-corp does.
     
  19. cookz4u

    cookz4u Newbie

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    Please delete these posts. My computer was having problems.
     
  20. brembo

    brembo Newbie

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    Also, pass-through taxes. You don't risk running into double-taxation.