Have you registered your business?

I registered my business from day 1. I'm a CPA and I work with a lot of businesses who don't register their business until well after they've been in business. That can be dangerous for several reasons:

- someone else may snag the name you want to use for your business
- legal reasons (you are responsible for contracts and debts personally if you don't have a formal business entity in place)
- taxes (the IRS can classify you as a "hobby" for tax purposes if you don't treat your business like a business - hobbies are limited in what they can deduct, so being classified as a hobby can cost you money).

I'm sure there are other reasons I can't think of off the top of my head, but if you're online to make money, you're in business and you should treat your business like a business. Registering your business is just one way to do that. Other things you can/should do include setting up separate business checking and PayPal accounts, hiring advisors (lawyers, accountants, etc.), getting a tax ID number, setting up a bookkeeping system, etc.

I'm curious to see how many people have registered their businesses. As a CPA who works with a lot of eBay sellers and online business owners, I've noticed that the trend seems to be to not register your business until you have a reason too ;0)

If you don't structure your business like a business and form a corporation etc.
Are you really in business?

How do you have anything that you really can grow or sell?

And will anyone really take you seriously?


Your thoughts?

Depends- which types of websites are classified as a business?
or just the ones that make money?

If u have a simple website with adsense, would that be classified a business ?

What exactly do you mean by "register? Get a business license, form an entity like a corp or LLC, or what?

In my country we don't on making money from the Internet. MIne is just a blog so I'm not thinking of registering since they aren't used to it.