taxes for DBA same as SSN?

[ariv09]

What is the name of your state (only U.S. law)? FL

Hello all,

I am thinking about registering a DBA so that I don't have to conduct business using my natural name. I've heard several versions of the story and official IRS websites are too technical for me. I just have 1 simple question:

When utilizing a DBA, do I need some sort of additional registration to pay taxes (EIN, etc?) or I just report income as self-employed under my SSN?

A million thanks to all!

[tranquility]

DBA has nothing to do with taxes. You may want an EIN in case someone wants to give you a 1099 and you don't want to give out your SSN.

[LdiJ]

Originally Posted by ariv09

What is the name of your state (only U.S. law)? FL

Hello all,

I am thinking about registering a DBA so that I don't have to conduct business using my natural name. I've heard several versions of the story and official IRS websites are too technical for me. I just have 1 simple question:

When utilizing a DBA, do I need some sort of additional registration to pay taxes (EIN, etc?) or I just report income as self-employed under my SSN?

A million thanks to all!

Some states require you to register a DBA. That does not have anything to do with tax. It also might be in your best interest to have an EIN (employers identifical number) but again, it would not necessarily effect tax.

You could form a single member LLC in most states, with an EIN number, and it would be disregarded entity for tax purposes. You would still file a schedule C as self employed.

However, there can also be some benefit to setting up an S-corp, or setting up an LLC that elects to file as an S-corp.

You should really get a consult with a local tax professional who can ask questions back and forth and give you advice based on your particular situation.

[ariv09]

Originally Posted by LdiJ

Some states require you to register a DBA. That does not have anything to do with tax. It also might be in your best interest to have an EIN (employers identifical number) but again, it would not necessarily effect tax.

You could form a single member LLC in most states, with an EIN number, and it would be disregarded entity for tax purposes. You would still file a schedule C as self employed.

However, there can also be some benefit to setting up an S-corp, or setting up an LLC that elects to file as an S-corp.

You should really get a consult with a local tax professional who can ask questions back and forth and give you advice based on your particular situation.

Thank you for your input... This is my first time setting up a business by myself, so the help is greatly appreciated!