Steps To A Legit Online Business PLEASE HELP!

GavinStephenson · 10-01-2009, 08:52 PM

Ok

What do you need to do to make your online business official. Is there somewhere I need to register?

Ive been making a lot so sales recently but im not sure if I doing it all legally? Im selling an info product.

Erm... I have a disclaimer and contact us page.

Please tell me the steps to make my business fully legit

Thanks

jaggyjay · 10-01-2009, 09:40 PM

You should make your biz official - especially for tax purposes. As you're in marketing, think of a related name for your business (ie: Stephenson Marketing, etc.). Speak to a qualified accountant or lawyer as to how to structure your biz. Mine is incorporated, but you can also consider an LLC or LLP. Again, speak to a qualified expert.

Of course, you can just be a Sole Proprietorship. You should be able to register your business as such at your county clerk's office.

Even if you're not making the big bucks yet, it's a good idea to make your business official. Also, it's important to properly structure it (inc, llc, etc.) not only for tax reasons, but to protect your assets.

Hope this helps.

- Jay

Preneuraholic · 10-02-2009, 11:02 AM

Quote:

Originally Posted by jaggyjay

Even if you're not making the big bucks yet, it's a good idea to make your business official. Also, it's important to properly structure it (inc, llc, etc.) not only for tax reasons, but to protect your assets.- Jay

Yes, it's a good idea to legalize your business. But don't get caught on the LLC bandwagon for the wrong reasons. So many people think that by incorporating their business they have magical protection of their assets. Not necessarily true. Depending on your business, you may be asked to sign a personal guarantee. Everyone from vendors, to landlords, merchant account companies, lenders, etc, will have you sign a little ole personal guarantee that will, in effect, render your "protection" void. Speak with an attorney and accountant (take advantage of fee consultations) to figure out the best route to take.

GavinStephenson · 10-02-2009, 04:59 PM

Thanks, a lot for your posts this is helpful

b.super13 · 10-02-2009, 05:01 PM

Good info. What about if you sell info products as well as being an affiliate for other products? I thought LLC would be the way to go?

10-01-2009, 08:52 PM	#1
GavinStephenson GavinStephenson.com War Room Member Join Date: Sep 2008 Location: London Posts: 160 Thanks: 6 Thanked 14 Times in 10 Posts Social Networking Contact Info	Steps To A Legit Online Business PLEASE HELP! Ok What do you need to do to make your online business official. Is there somewhere I need to register? Ive been making a lot so sales recently but im not sure if I doing it all legally? Im selling an info product. Erm... I have a disclaimer and contact us page. Please tell me the steps to make my business fully legit Thanks

10-01-2009, 09:40 PM	#2
jaggyjay Enlightened Warrior War Room Member Join Date: Nov 2007 Location: New York, USA. Posts: 335 Thanks: 3 Thanked 27 Times in 27 Posts	Re: Steps To A Legit Online Business PLEASE HELP! You should make your biz official - especially for tax purposes. As you're in marketing, think of a related name for your business (ie: Stephenson Marketing, etc.). Speak to a qualified accountant or lawyer as to how to structure your biz. Mine is incorporated, but you can also consider an LLC or LLP. Again, speak to a qualified expert. Of course, you can just be a Sole Proprietorship. You should be able to register your business as such at your county clerk's office. Even if you're not making the big bucks yet, it's a good idea to make your business official. Also, it's important to properly structure it (inc, llc, etc.) not only for tax reasons, but to protect your assets. Hope this helps. - Jay
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10-02-2009, 04:59 PM	#4
GavinStephenson GavinStephenson.com War Room Member Join Date: Sep 2008 Location: London Posts: 160 Thanks: 6 Thanked 14 Times in 10 Posts Social Networking Contact Info	Re: Steps To A Legit Online Business PLEASE HELP! Thanks, a lot for your posts this is helpful

10-02-2009, 05:01 PM	#5
b.super13 Active Warrior Join Date: May 2009 Posts: 42 Thanks: 0 Thanked 2 Times in 2 Posts	Re: Steps To A Legit Online Business PLEASE HELP! Good info. What about if you sell info products as well as being an affiliate for other products? I thought LLC would be the way to go?
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