Question by Answer Man: How should I incorporate my business?
I own an online business that resells different products. It is not registered and is a private company run by me. (Meaning I do not want any shareholders, etc).
What would be the benefits of registering my business? What kind of business should I register it as? Inc, Corp, LLC? What is the difference between a DBA with these?
The only 2 reasons I want to register my business is to cover business expenses (computers) and look more professional. Help? Thanks.
Answer by Alec
This will be straight forward, my friend. Hire an atty. and for a flat fee, have him INC. you A.S.A.P.! The primary advantage of incorporations is that with rare exceptions, all of your personal assets will forever be protected in case of Suit. As a re-marketer, suppose one of the products kills a bunch of kids, no fault of yours; but you will be among those sued. IF you lost, only the business’ assets could be lost. Your personal holdings would be safe. An DBA, provides no protection at all. (DBA also stands for Doctor of Business Administration)
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