LLC vs DBA I am interested in starting a business, a real estate investment co., buy inexpensive homes and rent them out. I'm not sure which way to go. I plan on having a maintenance person working for me.
lilhurricaneIt all starts with one bananaPremium,ModReviews:
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Some info here:
..but if it were me, I'd consult an accountant or attorney for info pertinent to ~you~.
Gomezha ha, charade you arePremium,Ex-Mod 06-11
reply to netezee
I'll reiterate, see an attorney that understands incorporation and the tax implications.
If memory serves, DBA and LLC are two different things. LLC gives a degree of protection from liability, whereas DBA isn't an incorporation, and has no protection.
Tax liability is something to keep in mind. I went through all this a while ago, and for get all the details between LLC, S-Corp, C-Corp, etc.. But tax implications was a huge concern.
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reply to netezee
DBA is in no way related to a corporation. It simply means "Doing Business As". In other words your company name would be "John Doe, DBA JD Rentals". An LLC would make your company name JD Rentals LLC, with your name no where in there. But as stated there are tax implications and liability implications to consider. As a general rule I would NOT to a DBA as an individual. You can be a corporation (LLC, S-Corp, C-Corp) and do a DBA to run a side business (though I think I recall reading somewhere that one of those corp types couldn't do a DBA). The difference in doing the DBA as an business vs as an individual is you already have the liability protection from the corporation.