DBA (Doing Business as) questoin

by behar
1 replies
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Hi all,

I was wondering if anyone has any experiences in doing business under an assumed name (DBA).

The registration process makes sense to my but I was wondering if I can;

- Open a business bank account using the assumed name and my SS#

- Do I need to get an employer identification number or can I simply user my SS#

- Can I separate my taxes and do them under the Business Name or do I still need to do them at the time I do my personal taxes?

- Are there any reports I need to send to the state on a quarterly/annually basis?

I was trying to find this online but really couldn't find anything specific about the questions I posted above.

I think I might just have to talk to an accountant in my state and figure it out.

Thanks!
  • Profile picture of the author seasoned
    Originally Posted by behar View Post

    Hi all,

    I was wondering if anyone has any experiences in doing business under an assumed name (DBA).
    I have!

    The registration process makes sense to my but I was wondering if I can;

    - Open a business bank account using the assumed name and my SS#
    In the US, ****YEP****!

    - Do I need to get an employer identification number or can I simply user my SS#
    You can use EITHER as long as it is in YOUR name, or the DBA name!

    - Can I separate my taxes and do them under the Business Name or do I still need to do them at the time I do my personal taxes?
    In the US, you have to do them under the SAME TIN, which is usually the SSN. This is where the Schedule C often comes in: http://www.irs.gov/pub/irs-pdf/f1040sc.pdf

    - Are there any reports I need to send to the state on a quarterly/annually basis?
    It depends! FOR EXAMPLE, in California, if you make below a certain level, sales tax is paid YEARLY! If you make above a certain level, it is generally QUARTERLY.

    I was trying to find this online but really couldn't find anything specific about the questions I posted above.
    DBA, at least in california, is by COUNTY! It is known in the STATE. As you stray from the county, specifics will differ! My father once almost got in trouble for not having a business license, because he moved. Licenses, in CA, AND NV, and possibly elsewhere, are by CITY!

    Steve
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