Question for the people

[decadex]

For those of you out there that charge outsiders to come record in your studio (be it full time or on the side). How many of you have a DBA (doing business as). Are you doing it for the tax write offs, or is that the reason that you dont have one. ?
I debating whether or not I want to file with the city, before i build my studio ( so i can write off building materials).... THX

 

[Michael Jones]

You definately want to file your business.
I wouldn't recommend a DBA, but rather an "S" Corporation or some other form of a corporation.

A DBA you can do yourself, while a corporation requires an attorney to do so as filing also requires rules of incorporation.
If an attorney wants more than a couple of hundred bucks to draft the corp., shop for another one. Doing this is really "boiler plate" for these guys and takes no time at all.

The advantage of a corp. over a DBA is less personal liability, increased legitamacy, and a slew of tax advantages.

 

[smythology]

So, what if you're the only person who owns the place and you don't want anyone else. Don't you have to list you're employees when you fill in the application (and other apps.) if applying as a corporate entity?

 

[knightfly]

No, just because you're incorporated doesn't mean that you must have employees. Here's a link for more -

http://www.mycorporation.com/inclearn.htm

And one from the SBA, just in case -

http://app1.sba.gov/faqs/faqindex.cfm?areaID=1

HTH, Steve

BTW, the DBA statement is required in all states I'm aware of, at least if you're NOT incorporated there, and stands for "Doing Business As" - The only time it would NOT be required, as I understand it, is if your name is (for example) John Smith and you're running a business named "John Smith Recording", or anything similar where your real name is part of the business name...