I know there are a lot of freelance designers on these boards, and I'm curious to see how many of them actually formed businesses (be it for legal protection, tax purposes, etc.).

If you do have a business under your name, what type of business are you (small business, corporation, LLC...)?

I really doubt most of the people are registered.

Well if they are, that's what this "General Business" forum is good for. :-)

I am a registered business. I run a small company out of an office in my home. This office is a seperate section and is accessible to clients from a seperate entrance. My company has been advertised locally, featured in newspapers, recently had a small N.F.P gathering of local firefighters and actually growing. (to my surprise)

I am registered as a DBA and will be seeking either an LLC or an INC when this term is up.

This is my second registered business (my first was a payroll business).

When in the payroll business I quickly discovered that if you were going to handle other people's money you had better be protected legally - an S Corp does exactly that; it separates your business dealing from your personal wealth.

Since it is very easy for somebody to sue you and get all your assets these days my personal opinion is that everyone should spend the $100 to $150 dollars necessary to set up an S Corp - that way if I should get sued they'll get a few computers, my desk, copier and fax machine (all part of the corporation) but I get to keep all my personal wealth and my house....

One additional (and very large) side benefit is that I report all my income against the corporation at tax time and take all the money out of the corp as dividends - you guys can easily figure the benefits of that one at this time of year)...

I formed an LLC but pay taxes as a S-Corporation would.

I lost a lot of money in taxes last year by not incorporating. As a S-Corporation you can pay yourself a "fair salary" and pay yourself the rest as dividends. The dividends are not subject to self employment (Social Security and Medicaid) taxes like the salary is....

I do it as my sole self.

Originally Posted by TimSchroeder

I formed an LLC but pay taxes as a S-Corporation would.

I lost a lot of money in taxes last year by not incorporating. As a S-Corporation you can pay yourself a "fair salary" and pay yourself the rest as dividends. The dividends are not subject to self employment (Social Security and Medicaid) taxes like the salary is....

That's a funny coincidence--I actually just filed for S-Corporation status today. Now DevelopedWeb will be avoiding double taxation!

Did you form a Florida LLC or did you register in another state? I know a lot of people choose Nevada because of their tax laws or Delaware because of their corporate judicial system.

Originally Posted by JohnJ

One additional (and very large) side benefit is that I report all my income against the corporation at tax time and take all the money out of the corp as dividends - you guys can easily figure the benefits of that one at this time of year)...

Don't even get me started on taxes... that's another topic altogether!

Duplicate post removed... oops!

My company isn't a registered business yet, but I may eventually consider registering it as an offshore corporation if it continues to grow.

I am currently to young to own a business, but I plan to get my business licence after colledge.

WealthStream, any reason for starting an offshore company? If it's too involved, maybe this would be a good topic for a new thread in this forum. I just went with a standard Florida C-Corporation (although I did actually file for S-Corporation status a few weeks ago to avoid double taxation).

thevirus, don't let age limit your abilities. I wanted to incorporate myself when I was a freshman in high school and was limited due to the fact that I wasn't 18, but I countered this problem senior year (while 17--I just couldn't wait any longer) by having my board chairperson be another person who was older than myself. I recognize the fact that the restrictions are different for each state, but in Florida it is legal to be an officer (ie--president) of a company if you are not 18, but you cannot be a member of a company's board of directors.

It presented a few problems when I was first getting started, such as the fact that I wasn't legally allowed to be on my own business bank account, despite the fact that I was the president of the business! Still, I countered these problems and am now very glad that I started my company as early as I did. It allowed me to get out their at a young age and get started when I needed to.

My company is registered as what in the US would be called a LLC (I think) In Japan (unliked what DevelopedWeb had to do) you can incorporate at anyage as long as you have the concent of your parents. Woopeee! So right now I (age 17) have setup a import retail business. Right now I'm waiting for my merchendise to come in from the USA.

Sounds interesting, vaio2006. What is it that you sell?

yes i have my company registerd its a company offering web design / SEO / computer networking / computer repair /computer leasing / email , phone , onsite support
i offer this world wide

Originally Posted by Boston_JM

...onsite support
i offer this world wide

Worldwide onsite support? Sounds pretty good to me!

Hi All,

My Business is Licensed in the State Of New Jersey...Registered as a Sole Prop. Business, as I run it from my home office. I have my products dropshipped directly to my customers. Couldn't possibly ask for anything better! Have been registered as Brothers Variety Store since May, 2002. This is my second business, this business, and my previous business (both selling Tangible Goods) were registered in the state of New Jersey, however, this is the only one currently in operation.

-Brian