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Need help forming a new business setup

Discussion in 'Business & Tax Advice' started by JustSomeAnon, Sep 2, 2013.

  1. JustSomeAnon

    JustSomeAnon Registered Member

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    I need to set something up. I don't have much knowledge on this stuff at all. I turned 18 recently and i want to set up a business with my pp/eb account. Now ideally low cost/protection is what i would like. I've been avoiding taxes for a while now and i feel like it will bite me if i keep doing it. If you guys don't mind i have some questions for you.

    How is one able to obtain multiple EINs? Can you have an unlimited amount?

    Can i create as many DBA's as i want and obtain eins on those DBAs? Am i able to pay taxes on these DBAs?

    Which type of business is best to setup with pp/eb?

    If one goes bad, in the meaning of pp shutting down my account do i just close down the business and apply for a new one?
     
    Last edited: Sep 2, 2013
  2. Panther28

    Panther28 Elite Member

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    just run it as a personal account first if your just starting. Don't worry about business structures for a while yet
     
  3. JustSomeAnon

    JustSomeAnon Registered Member

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    I already have plenty of personal accounts. The thing is im turning too much sales for me to get away without paying taxes. I'm already pushing it. Which is why i need a business structure. I've been doing this for a while now, know the game from top to bottom. Just not the EIN/business structure game.
     
  4. JustSomeAnon

    JustSomeAnon Registered Member

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    Bumpin for help
     
  5. Skyebug77

    Skyebug77 Jr. VIP Jr. VIP Premium Member

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    The only way to get multiple EIN's is to have multiple corporations. Cost of incorporating varies with each state but usually at least a couple of hundred of dollars.
     
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  6. JustSomeAnon

    JustSomeAnon Registered Member

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    Can i have an unlimited amount of corporations?

    Also, how much trouble is to have one closed?