View Full Version : LLC or DBA?
08-05-2010, 11:29 PM
Well Im going to get my business licensing and everything to go legit with in a few weeks and wondered what would be best, a LLC or DBA (Doing Business As I think it was).
I do not have any assets(as Im 16 lol). Only thing they could take is my lawn equipment and maybe my tools and tool box. Those are really the only things I own that are worth any thing.
I like the added security feeling off a LLC, just not the price tag (im starting up with a not so big budget.
What do you all think? I really value your opinion!
Thanks in advance!
08-05-2010, 11:58 PM
I am 17 and interested in this also! really i don't own anything yet. I will own my truck in october along with the trailer. I have a john deere ridding mower and a weed eater and blower thats about it.
08-06-2010, 08:29 AM
Starting a LLC isn't that much money. In Pa its 125$ for an LLC. I am sure its around the same cost in your area.
08-06-2010, 10:00 PM
how exactly do you start an LLC and what all do you neeed to start one? do you need insurance?
08-06-2010, 10:06 PM
Here is my view, if you have no assets, it's easier to start a dba and learn the whole business process. Scale it up to an llc or s-corp later.
Make sure you have insurance though.
08-06-2010, 11:12 PM
Forget LLC just go as DBA. There is no real advantage to being an LLC if you are on your own. The only advantage of an LLC is if you have partners in your company. So go with DBA and insurance and see how things work for you. If you build a company out of it then move on to a S-corp and enjoy your success.
08-06-2010, 11:49 PM
AGREED... go with DBA for now. An LLC separates you from your business's liability. But if you are wanting to go with an LLC because you are worried about being sued, then forming an LLC will not take that fear away. What I mean is that your company can be sued as well as you. So if you are sued for what happens, it doesn't matter that your business is an LLC or a DBA or even a corporation. You will still be liable.
As long as you are ensured, then I think you will be alright. Besides, lets say you break a window while mowing because your mower shot a rock out. Then the cost to replace the window may be less than the deductible on your insurance. You might as well pay for it yourself and no record goes on your insurance.
vBulletin® v3.7.1, Copyright ©2000-2015, Jelsoft Enterprises Ltd.