DO You guys have registered a business

8 replies
Hey warriors, I was wondering how many warriors here have a registered business and Why? What benefits are there to have a properly registered firm?

Also I would like to know what information you gave to the authorized person when he asked you what your business is about. Did you tell him exactly what you do ( which most person won't understand anyway) or did you gave them a nice answer like I am a consultant.
#business #guys #registered
  • Profile picture of the author Hyphen
    Well, registering as an LLC has the obvious tax benefits. I think that is the route that most self-employed marketers take.
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  • Profile picture of the author JoshuaG
    I have a registered business.

    Benefits include: tax write offs, a separate business account at the bank, easy to manage income tax tracking, the a feeling of being a business owner.

    When you register you don't give a step by step break down of what the business does. You just give a general description. Don't just say "Consulting" say what kind of consulting. Maybe its "SEO Consulting" or "Small Business Consulting for example.
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    • Profile picture of the author Anoopchawla
      Originally Posted by JoshuaG View Post

      I have a registered business.

      Benefits include: tax write offs, a separate business account at the bank, easy to manage income tax tracking, the a feeling of being a business owner.

      When you register you don't give a step by step break down of what the business does. You just give a general description. Don't just say "Consulting" say what kind of consulting. Maybe its "SEO Consulting" or "Small Business Consulting for example.
      Joshua, What if I register seo consulting and after some time a plan to do a product launch, Do I have to make any changes regarding nature of business mentioned in legal papers. Also I was wondering is it ok to work as an individual ( without registering a business) as long as I make it to considerable level of success, or will it create tax issues.
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      • Profile picture of the author JoshuaG
        It would be fine to launch a product. You would not have to make any changes.

        It is definitely okay to work as an individual without registering. In the legal sense your name is already a business identity. You don't even have to be successful to use your name as your business name.

        The only tax issue would be if you made money in your name and did not claim it.


        Originally Posted by Anoopchawla View Post

        Joshua, What if I register seo consulting and after some time a plan to do a product launch, Do I have to make any changes regarding nature of business mentioned in legal papers. Also I was wondering is it ok to work as an individual ( without registering a business) as long as I make it to considerable level of success, or will it create tax issues.
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  • Profile picture of the author TeddyKasche
    Just to chime in quickly, I would only worry about registering a business once I was consistently making money. As JoshuaG said, you are your own entity and as long as the taxes are paid on earnings, you can generate those earnings as a business or an individual.
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    • Profile picture of the author BerkleyStreet
      Just registered my offline consulting business yesterday. I think it lends a bit of credibility that potential clients will now write a check to "Business Name" instead of me. I also wanted to keep my personal and business finances separate - even used a different bank. To do that I needed to register my business as "My Name - Doing Business As" - DBA.

      I live in a smaller town - but I imagine that the process is pretty much the same everywhere.

      I first had to check with the Building Inspector to be sure that I could use my residence for a Home Business. No problem since i'm not dealing with shipping, etc. $15. just for that.

      Then back to the Clerk - filled out a form with Business Name and a short "what I do" sentence. She checked my ID - Took $25. and notarized it. Done.

      The whole process took 15 minutes.
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  • Profile picture of the author sdentrepreneur
    I got a business license in 2008, JMH Marketing Group. Internet Marketing Business, I help offline clients get Web Traffic and then I run my Internet Business under my same account.
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    Learn Digital, Internet and Social Media Marketing For Your Business
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