BUSINESS NAME

OVERVIEW

WHAT IS A DBA & A FEDERAL/TAX ID NUMBER

DBA stands for Doing Business As. In order for your business to be set up legally, you may want to get a business name, or DBA, registered with your state, or the state with which you want to register your business in.

In registering a business name, you will also want to get a federal/tax ID number so that you can completely legalize your business. Some states don't require this, but you'll want to check with your state locally.

WHY ESTABLISH A BUSINESS NAME

The main reason that you will want to get a business name and federal/tax ID number is for tax reasons. In order to legally take any type of home business tax deductions, you must have a properly registered business. And there are many tax deductions that you will want to take advantage of.

Many manufacturing and supplier companies also require a business name and tax/federal ID numbers in order to do business with them. Therefore, you will want to legally establish your business.

CHOOSING A BUSINESS NAME

In selecting a business name, you have the option of either choosing one that is specific to your particular business or choosing a name that is not descriptive to your business at all. If you are planning on having many businesses, like many different websites for example, you may want to choose a general business name as an umbrella for all of the businesses that you own. This way, you do not have to register a business name every time you start a new business.

If you want to try to create a strong brand name for your company, choosing a unique business name may be a good option. For example, Coca-Cola, Yahoo, and Kodak have all done this with choosing names that are not descriptive to their business at all. However, if you want to go this route, realize that it costs millions of dollars in

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