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Advantages of setting up a 'doing business as' : General Questions & Discussions • Writing Forum | WritersDigest.com

Advantages of setting up a 'doing business as'

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gesler0811
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Advantages of setting up a 'doing business as'

Postby gesler0811 » Tue Feb 19, 2013 2:05 pm

I just found out about Dean Wesley Smith's blog from another post on this forum. I've been reading his 'think like a publisher' series.

Dean talks about setting up a "Doing Business As" if you want to handle your business as a sole proprietorship.

Pardon the naivete that I bring to the table, but what is the advantage of going through the process of setting up a business name, getting a checking account for that business, designating home "office space", etc?

Is it strictly for tax purposes? To be able to better track your income/expenses? Why would I do all of this instead of just listing my book and having royalty payments get mailed to me, or dumped into my savings account?




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shadowwalker
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Re: Advantages of setting up a 'doing business as'

Postby shadowwalker » Tue Feb 19, 2013 3:48 pm

Personally, I wouldn't bother with a DBA unless I had several books out there, and a substantial income from them. There's a lot more bookkeeping involved, as well as paperwork and IRS/state tax scrutiny. You'd also have to look at the different forms of businesses to make sure you didn't end up with double taxation. No harm in it, if you're willing to deal with all of that, but it's additional headaches to worry about in addition to the many other items involved with self-publishing. Most self-publishers just aren't going to make enough money (at least at first) to make it worthwhile.
"It seems rather like wanting to be ... a writer, rather than wanting to write. It should be a by-product, not a thing in itself. Otherwise, it's just an ego trip." - Roger Zelazny

It's really not that hard. Just tell me a story.


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