Differences Between DBA and LLC
DBAs allow businesses to use a fictitious name. LLCs protect owners’ personal assets. DBAs have simpler legal and tax requirements than LLCs. Consider future business growth plans when choosing between a DBA and LLC. Consult experts to pick the right business structure.
Advantages of DBA and LLC
With planning, you can choose the right structure for your business vision. A DBA creates a marketing identity. DBAs help reach target markets. Sole proprietors can afford DBAs. LLCs better protect assets. DBAs let sole proprietors open business bank accounts. Form an LLC to protect personal assets. You can form an LLC with your existing DBA name. LLCs require an EIN to open bank accounts. DBAs use social security numbers for taxes.
Protecting Personal Assets
DBAs allow personal and business assets to be tied together. Get insured to protect your assets without an LLC. DBAs must meet naming requirements. Consult experts when choosing between a DBA and LLC.