What is DBA and how does it help me

These days if you don’t have DBA, LLC, Permits, and pay your taxes, you are one step away from owing bunch of money, and one more step away from going to jail.

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1. What is a DBA ( well it stands for Doing Business As)
- This is required in order to operate a business, that is not using your legal name ( aka your real name )
- And btw it might be legally required to your state
- But might not actually necessary if you have a legal entity

But for example:
- I want to start a consulting business, where I consult you on why dogs are better than cats
- But legally by default the name of the business is going to be Tommy Bryson, which makes it really hard to know what the business actually is
- But if I file for a DBA, I can now operate with a different name like “ Dogs over Cats”

2. However do you Actually need a DBA
- Depends on your state ( it might be mandatory )
- And also depends on if you care
- And if your customers care

For example:
- If I have a vending machine business, where I put candy machines in barbershops
- Are they gonna care that the name of the business is my own ( doesn’t really matter )
- But it would sound better if it was ( Tommy’s Vending Machines)

3. there are some benefits of having a DBA

First is:
- You can bank a lot easier
- When you file for a Dba you also get an EIN
- Which then makes it easier to open up a business account and to keep everything separate

Second:
- Makes it easier to open up new ventures
- So you could have multiple DBA under one LLC
- So for example, if I want to go from Tommy vending machines to tommy atm machines that’s also possible. Without having to create a brand new llc

Third:
- It’s a fast to get into business if you don’t have the cash to file for an LLC

4. I want to clarify some things
- A Dba is not a legal entity, so if you get sued they can come after your personal assets ( keep that in mind, but if your just starting out, it might be a good option)
- Its cheaper than an llc, for example in new York it would cost around $33 to file for one ( expect $100 incase you need extra paperwork)

5. How to file
- You can go to the county website
- You can use legal zoom
- You can zen business

I checked the cost: it shouldn’t be more than 150-200 if you have someone else do it for you

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*Some of the links and other products that appear on this video are from companies in which Tommy Bryson will earn an affiliate commission or referral bonus. Tommy Bryson is part of an affiliate network and receives compensation for sending traffic to partner sites. The content in this video is accurate as of the posting date. Some of the offers mentioned may no longer be available. I'm an Accountant but I'm not your Accountant, always review information with your Accountant/CPA and your Financial Advisor.

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