Sorta a weird question. I don't know where to start so thought I'd see if anyone had any ideas or leads to set me in the right direction.
Does anyone know how busienss name copyrights work? Are there such thing? Like if I wanted to use a certain name: 'Touch of whimsy' or somethign like that, do I have to make sure no one else is using the name already or am I allowed to use it if its a different kind of busienss?
SO confused! please help.
Colette
Posted:
Member since
Re: question about 'name' copyrights
Yes, you have to make sure no other entity is currently operating under that name, then you can 'incorporate' legally. Our CPA who does our taxes did it for Steve's side business. There are tax incentives to have all monies made declared in the business's tax return (versus personal income). There are services that offer to do all the filings for you, it's pretty cheap to do it as well. CT Corporation is one, I forget the name of the other big one... CSC maybe or something like that?
HamptonsBride
Posted:
Member since
Re: question about 'name' copyrights
the best is to Incorporate as an S-Corp or an LLC...there are even on-line places you can use....my CPA did mine for me...but DH did his LLC thru this on-line place...
think getting it incorporated is a safe thing to do.. When you do you'll have to file a tax return and depending where your place of business is and type you form you'll have to pay a minimum tax - NYS is $100 and NYC $300 for s-corps for example..
Funny story to share about names and the internet- DH has a small photography business on the side - incorprated and all in the States.. he bought a url and it happened to be the same as another guys in the UK - DH's ended in .net and the UK guy in .com
long story short the guy emailed DH and told him to stop using his name!! DH responded and mentioned that his has been incorporated for several years now and then never heard from the guy again..
think getting it incorporated is a safe thing to do.. When you do you'll have to file a tax return and depending where your place of business is and type you form you'll have to pay a minimum tax - NYS is $100 and NYC $300 for s-corps for example..
Funny story to share about names and the internet- DH has a small photography business on the side - incorprated and all in the States.. he bought a url and it happened to be the same as another guys in the UK - DH's ended in .net and the UK guy in .com
long story short the guy emailed DH and told him to stop using his name!! DH responded and mentioned that his has been incorporated for several years now and then never heard from the guy again..
not much help - sorry prob rambled on too much!!
Thanks girls. Hmm what to do-not makign much yest so its a double edges sword. One one hand website would help business but on the other hand, its an expense right now that seems silly because not enough business to merit! oh decisions desison
acsm
Posted:
Member since
Re: question about 'name' copyrights
QUOTE]
Thanks girls. Hmm what to do-not makign much yest so its a double edges sword. One one hand website would help business but on the other hand, its an expense right now that seems silly because not enough business to merit! oh decisions desison
if you do create a s-corp keep in mind that you'll report income from any business you do do in the year and you'll always have expenses every year - internet bill, partial phone, tax prep fees, supplies and so on.. these will add up and can reduce your income if you report a loss on your s-corp return on your personal return.. so its not a bad thing..could lead to only an extra $200 decrease in taxes or whatever personal return wise but hey you take what you can get! sorry getting all accountant on you!!
FullersBride
Posted:
Member since
Re: question about 'name' copyrights
You need to ask a lawyer so they can run a data base search on it. I know when I formed my Company, I did an LLC, my lawyer did a search to make sure my name wasn't taken. I'm not sure if it is state specific or national. I'm assuming its nationally because I have afederal tax ID number with the name!
Good luck! Let me knwo if you have any questions on being a new buisiness owner!
PeteysBride
Posted:
Member since
Re: question about 'name' copyrights
Posted by FullersBride
You need to ask a lawyer so they can run a data base search on it. I know when I formed my Company, I did an LLC, my lawyer did a search to make sure my name wasn't taken. I'm not sure if it is state specific or national. I'm assuming its nationally because I have afederal tax ID number with the name!
Good luck! Let me knwo if you have any questions on being a new buisiness owner!
You will sooo regret that offer Maria! Thanks though. I hate doing new things..I adjust quickly but the initial jumping in usually results in alot of splashing.
PeteysBride
Posted:
Member since
Re: question about 'name' copyrights
Posted by acsm
QUOTE]
Thanks girls. Hmm what to do-not makign much yest so its a double edges sword. One one hand website would help business but on the other hand, its an expense right now that seems silly because not enough business to merit! oh decisions desison
if you do create a s-corp keep in mind that you'll report income from any business you do do in the year and you'll always have expenses every year - internet bill, partial phone, tax prep fees, supplies and so on.. these will add up and can reduce your income if you report a loss on your s-corp return on your personal return.. so its not a bad thing..could lead to only an extra $200 decrease in taxes or whatever personal return wise but hey you take what you can get! sorry getting all accountant on you!!
No I appreciate it! I don't know anything about accounting so seriously, I take evrry bit of advice I can get seriously. I am notebooking this page to refer back to.
FullersBride
Posted:
Member since
Re: question about 'name' copyrights
Posted by PeteysBride
Posted by FullersBride
You need to ask a lawyer so they can run a data base search on it. I know when I formed my Company, I did an LLC, my lawyer did a search to make sure my name wasn't taken. I'm not sure if it is state specific or national. I'm assuming its nationally because I have afederal tax ID number with the name!
Good luck! Let me knwo if you have any questions on being a new buisiness owner!
You will sooo regret that offer Maria! Thanks though. I hate doing new things..I adjust quickly but the initial jumping in usually results in alot of splashing.
No problem, ask away. I tried doing everyting myself online but there are so many things that you can miss that I didn't want to take a risk and I just had the lawyer do it.
Do look into becoming a sturctured company! DH was admant that I do no buisinness until my company was legally forwed so that all of our personal assets, money, house etc were protected. THat way god forbid I got sued they would go after the compnay and could not touch our personal stuff. It's important as a buisiness owner that you protect everything that you and your DH have worked so hard for and keep yourself safe!
Let me know anytime you have questiions!
JennNicole
Posted:
Member since
Re: question about 'name' copyrights
I had to go to Riverhead to do mine. Pain in the blank blank
I would DBA it though unless you seriously feel like your gonna make tons of $$$ or maybe NO
PeteysBride
Posted:
Member since
Re: question about 'name' copyrights
Yea I need to think about it-do a list with the pros and cons. I definetly need a site i think to show what i do but if Im not making alot of $$ I don't wnat to end up owing $$ at the end of the year.
