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Setting up a DBA

 
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dsmboosted

posts: 7

Jun 30, 2009 3:46 PM ET    Quote  Report Abuse
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A few years back I setup the LLC Called Giant Property Management. I also am now starting a new business called T2M. I never did any type of business under Giant property Management, except for file the LLC. Can I use my new business, T2M under the Giant property managment LLC? I also want T2M to be an LLC solely owned and operated by myself.
 
Would it be easier to just for a new LLC under T2M, or can I do a DBA under Giant Property Managment. If so, what do I need to do legally?
Jun 30, 2009 5:59 PM ET    Quote  Report Abuse
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You can setup a DBA under your company name `Giant Property Management` or you could set it up as a DBA under your real name.

Either way all it takes is a form and a trip to your local county clerks office.

QuickBooksCoach

posts: 19

Jul 01, 2009 10:37 AM ET    Quote  Report Abuse
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What Shawn says is true.Just one caveat. You mentioned that this LLC had been set up a few years ago. I don`t know about your state but in Florida if you don`t pay the annual fee for your corporation it is automatically dissolved. So you might want to check that out also.
dsmboosted

posts: 7

Jul 01, 2009 10:54 AM ET    Quote  Report Abuse
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I actually just went in and setup a new DBA under T2M. It was only $130 and I figured that it would save me some headache down the road. I have not seen anything about an annual fee in Wisconsin for an LLC. Does anyone have any insight on this?
QuickBooksCoach

posts: 19

Jul 01, 2009 10:54 AM ET    Quote  Report Abuse
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Sure is. I find that for non accountants it is the easiest to set up and maintain. If you have any questions give me a call. No obligation. 
dsmboosted

posts: 7

Jul 01, 2009 10:55 AM ET    Quote  Report Abuse
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Mike,
 
It seems you are the quick book guy...dumb question, but is that the software you recomend for accounting of a small business?

 
What Shawn says is true.Just one caveat. You mentioned that this LLC had been set up a few years ago. I don`t know about your state but in Florida if you don`t pay the annual fee for your corporation it is automatically dissolved. So you might want to check that out also.
dsmboosted7/1/2009 10:49 AM
dsmboosted

posts: 7

Jul 01, 2009 11:32 AM ET    Quote  Report Abuse
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Ok, thanks Mike. When I get to that part of my business setup...I will def call you.
 
Is there anything else that I need as far as forms to file, state or federal #`s etc for taxes etc?
 
So far I have the LLC, and I am getting an FEIN. I will also be opening a checking and savings account in the next few days.
QuickBooksCoach

posts: 19

Jul 01, 2009 2:46 PM ET    Quote  Report Abuse
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If you are the sole owner you can file as a schedule c on your personal return. I do not know the requirements of your state as regards LLC if it is like Florida. Then they follow US law  and you would be governed accordingly. For example in Florida we have no personal income tax (a big Hurrah), so we would not have to file a return for the LLC other than the first year to notify the state we are not taxable as a corp.

The only other thing would be sales taxes and occupational licenses which is governed again by where you are.
Jul 01, 2009 2:53 PM ET    Quote  Report Abuse
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In NY I had to get a State Tax ID number (Certificate of Authority)... it allows you to collect tax on behalf of the state - and you pay it back in State Taxes (quarterly here in NY).

The form dhould be available for download via PDF on your state government website.

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