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Tax I.D. or just leave it Under Your Name?

by getmoney015
5 replies
Hey guys just wanted to get your opinions on this.
If you were a vendor/ affiliate marketer would you take a loan out yourself and use it on advertising and testing or have some of you started an actual business out of it and obtained a separate tax id and use business loans, or just used your own money...
#leave #tax
  • Profile picture of the author RockStar87
    For me when you are just starting out as a vendor/affiliate just use your name first.
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  • Profile picture of the author OnlineStoreHelp
    Originally Posted by getmoney015 View Post

    Hey guys just wanted to get your opinions on this.
    If you were a vendor/ affiliate marketer would you take a loan out yourself and use it on advertising and testing or have some of you started an actual business out of it and obtained a separate tax id and use business loans, or just used your own money...
    I would be surprised if you found anyone on the Warrior Forum that didn't start out bootstrapping it. The cost to start is so cheap, you shouldn't need a loan to start. So, why on earth would you want to get a loan for the affiliate marketing business?
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    • Profile picture of the author getmoney015
      Originally Posted by OnlineStoreHelp View Post

      I would be surprised if you found anyone on the Warrior Forum that didn't start out bootstrapping it. The cost to start is so cheap, you shouldn't need a loan to start. So, why on earth would you want to get a loan for the affiliate marketing business?


      Everyone has their own definition of "cheap"
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  • Profile picture of the author ineedow
    Start off small with just your name first.Then once your business starts to grow you may want to incorporate it or form an LLC.This can be outsourced at sites like legal zoom.You will have better benefits and advantages once you get that business tax i.d.
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  • Profile picture of the author Jack Gordon
    Originally Posted by getmoney015 View Post

    Hey guys just wanted to get your opinions on this.
    If you were a vendor/ affiliate marketer would you take a loan out yourself and use it on advertising and testing or have some of you started an actual business out of it and obtained a separate tax id and use business loans, or just used your own money...
    If you are asking for tax advice, a marketing forum is a terrible place to do that.

    Besides that, I'll tell you that if you are serious about this as a business venture, you should treat it as such and make it a legit business. EINs are free, LLCs are cheap and the value of compartmentalizing your business from your personal life is immense.

    Good luck, whatever you decide to do.
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    Fifteen Lessons I have learned over 15 years and six businesses (or, My 1000th-Post Manifesto)
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