I'm thinking of turning everything I do online into a 'real' business, under a registered business name. I've been doing everything out of my personal name in the past. Has anyone did this? I know I'll need to register a business name and keep track of everything I make and spend. Any advice, suggestions? EDIT: Basicly, what I'll be doing it working under a business name and be buying/selling/creating sites. So it won't be like I'll have 1 website.
I know how to, and not really worried about the legal stuff... was looking for advice by other developers on if this is a good road to take or not.
Got it. Yes, it's the right road. If the goverment ever audited your income assuming you aren't reporting), you could be in some big trouble. Also, by incorporating, you're protecting yourself legally and separating your personal assets from your business assets. If anything ever went wrong with the business, your home, car, and other personal assets would be protected. * please consult and confirm everything with a lawyer. My posts reflect my personal opinion and is not meant to be legal guidance in any way, shape, or form.
I used www.legalzoom.com for my first business when I got it legal and had my own lawyer do it once i was established to add on my companies bought up by my main company.
I only run my business via a registered company to get my visa. If I didn't need to do it to get my visa, I'd probably invest the extra money into sites! It all depends on what country you live in!
Well, if you are serious about improving your business prospects then you must run it under a professional name and over all get your business name registered in the near future. By this way your customers will consider you as a true person as far as your business profession is concerned.
if you are small still, just do a DBA (doing business as), but if you are earning a lot or working with high profile companies, protect your ass, get an LLC setup.
Definitely incorporate, especially if you work from home. You can write off basically everything as a business expense (computer, car, even the room in your house from which you work) and it gives you a good tax-time advantage.
I am currently working just under a business name, but I am also in the works of incorporating in order to protect myself from losing everything if something happens!