I'm new (legal questions) - GoFuckYourself.com

bbycakes · 11-17-2013, 10:47 AM

I want to start a website in the beginning of the year. I've so far have a good idea where to get my domain name, web hosting, and a company that will accept cc payments.

I am currently having trouble with the more legal stuff:
- Banking
(ie. How do I set up my banking account? Should I have a company name and dab for the actual site? Should I not have the name of my website even as something the bank can see and do business in another name?)

- Registering business name
(ie. Do I need an LLC or sole proprietorship? Should I trademark the name of my business? Should I trademark my website?)

-Taxes
(ie. Do you do your own taxes or have an accountant?)

Any questions answered would be much appreciated. If you could share how you have your business set up that would be very helpful. Thanks!

bothead · 11-17-2013, 04:08 PM

Honestly get a lawyer, most will offer you like 30 mins free session and will answer those questions for you with good legal knowledge.
Honestly when we first started out some of the advise we got was simply out of date, but a free 30 mins from a lawyer sorted us out and got us on the right road....and he got himself a new client as well.

Accountants will do the same for you as well, they want your business, take the free time to get the questions answered, then you can make informed choices.

Just one final point... I let the lawyer take care of everything legal and everything money wise the accountant handles. it allows us to spend time doing what we are good at.

bbycakes · 11-17-2013, 06:34 PM

Quote:

Originally Posted by bothead

Honestly get a lawyer, most will offer you like 30 mins free session and will answer those questions for you with good legal knowledge.
Honestly when we first started out some of the advise we got was simply out of date, but a free 30 mins from a lawyer sorted us out and got us on the right road....and he got himself a new client as well.

Accountants will do the same for you as well, they want your business, take the free time to get the questions answered, then you can make informed choices.

Just one final point... I let the lawyer take care of everything legal and everything money wise the accountant handles. it allows us to spend time doing what we are good at.

I'll be sure to start setting up my appointments thank you for your input it is very much appreciated.

dirtydealer · 11-18-2013, 09:24 AM

hey man i was in the same boat. the truth is you should really visit a lawyer, it is worth doing everything properly in the beginning , it will save you a headache later. the one thing i can help you with is the name. when you want to start a business account at the bank each branch has its own power to refuse you. my mistake was starting the company with th website name. this caused a bunch of problems. start another company that owns the site and give it a generic name;O good luck

Barry-xlovecam · 11-19-2013, 04:53 AM

I vote for the talk to an accountant approach -- let the accountant advise you on the business accounting and tax record requirements.

File a DBA (doing business as) name if you want with your county clerk's office. It costs $10.00 for 5 years here (generally cheap).

And like said above, use a generic non-porn name to open your business bank account.

For discussion purposes and not legal or accounting advice:

To trademark a name costs about $500 (DIY) - $5,000. Succeeding in trademarking a name can vary a lot and get costly when there is a conflict name dispute. Consider the current value of what you are trademarking and its likelihood for being worth the cost. If the trademark is speculative on your efforts trademarking is not an amortized expense but site development costs can be current expenses or amortized.

Try to always use a business bank account debit card for business related expenses -- that creates a record of the seller and the amounts spent -- you need to keep the original receipts for detail if you are ever audited for taxes.

If you work out of your home: To fully utilize the home office deductions you need to use a dedicated room for the business. Office furniture and supplies are deductible (accelerated or amortized). Hosting costs, domain fees and business ISP service are deductible. Business telephones and service are deductible. Legal fees, accounting fees, computers used for the business are deductible.

You need to compute your business income on a schedule C basis and pay estimated income and SE taxes (if in the USA) quarterly or pay a penalty at the end of the year -- consult with an accountant.

Quicken and Peachtree accounting are good accounting programs for small businesses -- ask your accountant for what he recommends.

Spudstr · 11-20-2013, 08:33 AM

Marc Randazza and his team can handle everything for you and take care of you. I believe they have a tax guy on their team that can help advise.

But from a legal standpoint in protecting your rear. Marc and his team are one of the best to do this.

http://www.randazza.com

bbycakes · 11-22-2013, 12:57 PM

Thank you all for your help. I'm seeking an accountant and lawyer asap (I'm just looking for one in my area).
can't wait to have a site up and running rest year!

wwwbest · 11-29-2013, 07:41 PM

Thanks alot

remymt · 12-06-2013, 03:00 AM

you should think about taking the business in a free of taxes country for a long therm business plan.

gl

Claudiu_Radu · 12-06-2013, 04:59 AM

trademarks can be a headake but there a must

Forestier3000 · 12-07-2013, 04:30 AM

bitcoins have also been implemented in almost all countryes, give them a search

DerKramer · 12-18-2013, 08:37 AM

Was much easier for me...i just started making a site, and when the money came, i did the rest...

11-17-2013, 10:47 AM	#1
bbycakes Registered User Industry Role: Join Date: Nov 2013 Posts: 12	I'm new (legal questions) I want to start a website in the beginning of the year. I've so far have a good idea where to get my domain name, web hosting, and a company that will accept cc payments. I am currently having trouble with the more legal stuff: - Banking (ie. How do I set up my banking account? Should I have a company name and dab for the actual site? Should I not have the name of my website even as something the bank can see and do business in another name?) - Registering business name (ie. Do I need an LLC or sole proprietorship? Should I trademark the name of my business? Should I trademark my website?) -Taxes (ie. Do you do your own taxes or have an accountant?) Any questions answered would be much appreciated. If you could share how you have your business set up that would be very helpful. Thanks!

11-17-2013, 04:08 PM	#2
bothead Registered User Industry Role: Join Date: Dec 2012 Posts: 57	Honestly get a lawyer, most will offer you like 30 mins free session and will answer those questions for you with good legal knowledge. Honestly when we first started out some of the advise we got was simply out of date, but a free 30 mins from a lawyer sorted us out and got us on the right road....and he got himself a new client as well. Accountants will do the same for you as well, they want your business, take the free time to get the questions answered, then you can make informed choices. Just one final point... I let the lawyer take care of everything legal and everything money wise the accountant handles. it allows us to spend time doing what we are good at. Last edited by bothead; 11-17-2013 at 04:09 PM.. Reason: extra point

11-19-2013, 04:53 AM	#5
Barry-xlovecam It's 42 Industry Role: Join Date: Jun 2010 Location: Global Posts: 18,083	I vote for the talk to an accountant approach -- let the accountant advise you on the business accounting and tax record requirements. File a DBA (doing business as) name if you want with your county clerk's office. It costs $10.00 for 5 years here (generally cheap). And like said above, use a generic non-porn name to open your business bank account. For discussion purposes and not legal or accounting advice: To trademark a name costs about $500 (DIY) - $5,000. Succeeding in trademarking a name can vary a lot and get costly when there is a conflict name dispute. Consider the current value of what you are trademarking and its likelihood for being worth the cost. If the trademark is speculative on your efforts trademarking is not an amortized expense but site development costs can be current expenses or amortized. Try to always use a business bank account debit card for business related expenses -- that creates a record of the seller and the amounts spent -- you need to keep the original receipts for detail if you are ever audited for taxes. If you work out of your home: To fully utilize the home office deductions you need to use a dedicated room for the business. Office furniture and supplies are deductible (accelerated or amortized). Hosting costs, domain fees and business ISP service are deductible. Business telephones and service are deductible. Legal fees, accounting fees, computers used for the business are deductible. You need to compute your business income on a schedule C basis and pay estimated income and SE taxes (if in the USA) quarterly or pay a penalty at the end of the year -- consult with an accountant. Quicken and Peachtree accounting are good accounting programs for small businesses -- ask your accountant for what he recommends. Last edited by Barry-xlovecam; 11-19-2013 at 04:56 AM..

11-20-2013, 08:33 AM	#6
Spudstr Confirmed User Industry Role: Join Date: Jan 2003 Location: In a Tater Patch Posts: 2,321	Marc Randazza and his team can handle everything for you and take care of you. I believe they have a tax guy on their team that can help advise. But from a legal standpoint in protecting your rear. Marc and his team are one of the best to do this. http://www.randazza.com __________________ Managed Hosting - Colocation - Network Services Yellow Fiber Networks icq: 19876563 Last edited by Spudstr; 11-20-2013 at 08:34 AM..

11-18-2013, 09:24 AM	#4
dirtydealer Registered User Industry Role: Join Date: Dec 2012 Posts: 27	hey man i was in the same boat. the truth is you should really visit a lawyer, it is worth doing everything properly in the beginning , it will save you a headache later. the one thing i can help you with is the name. when you want to start a business account at the bank each branch has its own power to refuse you. my mistake was starting the company with th website name. this caused a bunch of problems. start another company that owns the site and give it a generic name;O good luck

11-22-2013, 12:57 PM	#7
bbycakes Registered User Industry Role: Join Date: Nov 2013 Posts: 12	Thank you all for your help. I'm seeking an accountant and lawyer asap (I'm just looking for one in my area). can't wait to have a site up and running rest year!

11-29-2013, 07:41 PM	#8
wwwbest Registered User Industry Role: Join Date: Nov 2013 Posts: 31	Thanks alot

12-06-2013, 03:00 AM	#9
remymt Registered User Industry Role: Join Date: Nov 2013 Posts: 33	you should think about taking the business in a free of taxes country for a long therm business plan. gl

12-06-2013, 04:59 AM	#10
Claudiu_Radu Registered User Industry Role: Join Date: Nov 2013 Posts: 32	trademarks can be a headake but there a must

12-07-2013, 04:30 AM	#11
Forestier3000 Registered User Industry Role: Join Date: Nov 2013 Posts: 31	bitcoins have also been implemented in almost all countryes, give them a search

12-18-2013, 08:37 AM	#12
DerKramer Registered User Industry Role: Join Date: Oct 2013 Posts: 44	Was much easier for me...i just started making a site, and when the money came, i did the rest...