Can my DBA actually own property??

in Forum: Business planning

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Oct. 10 2008 at 2:48 PM
Posted by: Hendu3270 “Quote Reply
Hello all. I've been searching on the internet and couldn't find an answer but I did stumble upon you guys. My question is this. I have a waterfowl guiding business that I'm starting up and have setup my DBA, (in Texas), and I have my tax certificate from the state. Can I transfer my boat into my company name? So that on the title to the boat it actually says my company name? Thanks in advance for any help. Chris Edited by: Hendu3270 - Oct. 10 2008 at 2:48 PM
Oct. 13 2008 at 5:17 AM
Posted by: Nuevolution “Quote Reply
Chris? what's the legal structure? Sole Proprietor? LLC, or Corp? I'm thinking. If you're a Corp or LLC, I can see the benefit of doing this. but if you're a sole-proprietor that means you're using your Social Security as your TAX ID number. So if any one was to sue you; you're boat would be theirs along with your business. Just because it would show a company name on the title doesn't mean you don't own it. Now, if you're a Corp or LLC, that means that your Corp would has it's own TaxID number, separate from your social security, then it would be hard for someone to take your boat as long at they don't pierce your corporate veil. Edgar Monroy Web Developer / Owner / Consultant When starting your own business the need to "know-how" is greater than money! http://www.nuevolution.net