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Clean N Green
11-20-2009, 11:57 PM
Im starting a company and want to know if I should become a dba or a llc. It will be a small company owned by me and my wife only. Im leaning more torwards a dba any advice

laird006
11-21-2009, 10:07 AM
LLC in your situation, I imagine you have a decent amount of personal assets that could be lost due to a lawsuit from an accident. DBA will not protect your personal assets like an LLC will, not that an LLC is a cure all either, but it is a lot safer for you if you get into trouble.

pdenney11
11-21-2009, 10:30 AM
LLC for sure. I did DBA when I first started because I was 18 and all I owned was a truck. Now I am starting to have more personal assets so I made the switch to LLC the beginning of this year to save me from any problems. Better to be safe then sorry.

Clean N Green
11-21-2009, 10:55 AM
Ya I really dont own much for right now but I think that i should think about the long run and just do the llc. Now i probably wont make much money over the first year just because its a part time thing so how does that affect me tax wise?

laird006
11-21-2009, 10:56 AM
do you own a truck, house, property, etc. your PERSONAL assets can be taken using a DBA, not just business related ones.

Clean N Green
11-21-2009, 10:58 AM
Just a truck

laird006
11-21-2009, 11:00 AM
well its not as big of a deal then, but definitely invest in some insurance, and when you start to grow some I'd still go LLC

Clean N Green
11-21-2009, 11:03 AM
ya the dba is much cheaper and will work for now but when i get into snow removal commercially i will go LLC