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View Full Version : Is there a point to register as a company for my puny web site(s)?



Vash
01-19-2014, 12:04 AM
I have been running a web site of my own for almost two years. It is not a full time job, but I wish to make it a serious business. I am pulling some revenue (although still puny) through ads. At the same time, I have a second web site which was launched not so long ago but I lack the time to develop it further... so it's not making anything right now. Both web sites will need a lot of work before be able to pulling in decent revenue. I do have the plan to expand them.

The question is, if there is any benefit or any point to register a business/company for my little online venture? It is tiny now, but it will be bigger.
The second question is, how to sign up for a business/company and how much it will cost? lol... sorry I am a total newbie in this.

delusional
01-19-2014, 03:52 AM
It depends on the profit.
It has it's up- and downsides. For example, you can purchase items that your business "needs". This can be a computer, desk, internet subscription, ... You will be able to deduct a portion of the cost because you bought it for your business.

This is some nice information: http://guides.wsj.com/small-business/starting-a-business/how-to-start-an-llc/
Like mentioned: fees can be $30 to $200 to start, depending on your state.
Other taxes can go quite high. So like I said, it depends on the profit. If the total profit is higher than the tax, it's okay to start.

AliceT
01-19-2014, 03:00 PM
It depends upon the laws in your area. A bookkeeper would be able to provide an answer - you shouldn't need to hire an accountant.

If you were running a business that required you to purchase products wholesale, then definitely, registering a business at the beginning would be wise. Since you are not purchasing anything to start-up, it may not be required.

You do still have to pay taxes on your income, whether it is a registered business or not. Again, a bookkeeper would be able to assist with this to ensure you are doing everything properly.

natbynik
02-19-2014, 12:34 PM
I have been running a web site of my own for almost two years. It is not a full time job, but I wish to make it a serious business. I am pulling some revenue (although still puny) through ads. At the same time, I have a second web site which was launched not so long ago but I lack the time to develop it further... so it's not making anything right now. Both web sites will need a lot of work before be able to pulling in decent revenue. I do have the plan to expand them.

The question is, if there is any benefit or any point to register a business/company for my little online venture? It is tiny now, but it will be bigger.
The second question is, how to sign up for a business/company and how much it will cost? lol... sorry I am a total newbie in this.

Yes, there are benefits to registering a business. One benefit is most banks will require proof of registration with the state in order to open a business checking account. If your business expands, and you decide to apply for a loan, the bank will want proof of business ownership. Some companies also offer discounts to registered businesses.

owesem75
02-19-2014, 02:35 PM
well, I actually have the same question, but with a little twist. What if I live in a different country and my nationality doesn't permit me to register my own business here in my host country? I can't wait to start my first website, but I am worried I can tangled in a web of problems when I started it here and I have so many penalty or maybe tax cases when I return and legitimize my business? any help?

alec
03-26-2014, 11:52 AM
At this point I'd say you don't need to register as a business. Since the income is low you'll just end up paying more than you make in taxes and permits. My opinion would be that you wait, expand and improve and later register. I can't speak for your country but around here, online at least, you're safe legally until you bring in big cash and have to pay taxes. As always, to be safe, consult a professional. For quick advice like this you won't have to pay a lot.

Taru
03-27-2014, 04:40 AM
If you aren't raking in significant enough amounts of profit yet, then I would guess that it's still unnecessary at this point. It would most likely just entail a lot of unnecessary extra work, and unless you do plan on gaining more and have concrete leads on how to make it happen, there probably is not much need for it. If you start acquiring substantial income from it, however, then it may be time to declare it as a legitimate business.

Rainman
03-27-2014, 05:01 AM
well, I actually have the same question, but with a little twist. What if I live in a different country and my nationality doesn't permit me to register my own business here in my host country? I can't wait to start my first website, but I am worried I can tangled in a web of problems when I started it here and I have so many penalty or maybe tax cases when I return and legitimize my business? any help?
The only simple way to get around this is to register your business in your home country and pay your taxes there if you have to. By the way, you don't even have to register your online business if you are just starting out. Bloggers for example consider themselves as small business people. How many bloggers do you know who've registered their blog as a business? Not many I presume. Maybe you can a thing from them - - just get started. Once you start generating income from your website you can proceed to the next step.

printer
10-15-2014, 05:04 AM
Yes it is important to register your company and you will have to go through law of your area like what is the procedure to register your company.

Paras
08-28-2019, 03:12 AM
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