All Forum Posts by: Trevon Peracca

@Trevon Peracca

I am not a Lawyer, but the internet is a bit of the wild west when it comes to laws. I always go with the approach: Act fast and do what you need to do with tech, and have the legal side ramp up around the same time.

Basically, your online domain name and web address have nothing to do with a legal entity. You buy the domain, you own it, and you put up a site. From there, as long as the site is mostly informational about your business, you're really in the position of a sole proprietor who happens to have a website. That's my take as a tech person, not as a lawyer. 

Things get muddier when you start doing transactions on the site, and when you have customer confidence issues. Most REI sites are informational, and certainly at the early stage.

Hi Trevon, you don't need a license in order to create a website. However, you can't put an LLC or Inc after the name. That's pretty obvious - right? But you can make it look business professional.

Depends on how you choose to budget how much you can spend on the mailouts at one time

Not an attorney but this is my recollection of summary with my attorney.

LLC gives you more flexibility but has to be done by a great attorney. Start with an LLC and make money. When you make enough income, you can file the LLC as a S-corp. The benefits of the S-corp are paying FICA on your "wage that must pass the BS test for the type of job" rather than paying self-employment tax on all of your flip or wholesale income. I am sure there are some investors who are not filing their flip or wholesale income properly and paying self-employment taxes. But you need to make a substantial amount of money to pay yourself a wage. That's why the LLC gives more flexibility.

Anyone chime in if I am missing something in my explanation.