Do you form a corporation for doing business?

[incniu]

like C corp or LLC?

or just do it informally?


I bet some wholesale company only do business other formal businesses.

[dennisjaneway]

the real wholesale companies let u buy only with a Tax-ID and Resale-Certificate.

So u need a legal LLC or Corp. With a EIN/ Resale Certificate from the IRS

[jeffweico]

A d/b/a can also have an EIN. It is very common. DBA's are the simplest form of a business, and the profits just get reported on the owner's tax return. Usually, they are recorded at the county level and cost very little to file.

If you set up a corporation or an LLC, then you will need to file tax returns with the IRS, and annual reports with the state the coporation or LLC is located in.

A resale certificate is provided by your state department of revenue. You get it when you apply for a sales tax ID number so that you can collect and remit taxes in that state.

There are many advantages and disadvantages to each type of business, too numerous to go into detail here. You should see an attorney or tax specialist to see which one is right for you.

Myself, I like to keep it as simple as possible.

[slapped]

@jeff I Know that Keeping it simple is Great, but the truth is you will NEVER Be able to Deal with the Big Boys of the Wholesale world unless you are a Legit Corp, and Take it from me IT IS WORTH IT, Quick example Just today, A Major Distributor Closes out NEW Kodak model M341, 12mp, 3x Optical, 5x Digital zoom Cameras for $49.00, You Cannot go wrong.

Dealing with these Major Distributors You get offers SENT to you like this EVERYDAY.

If you are Serious about selling online as I am, Its the ONLY Way to go,

Just my Opinion

[jeffweico]

Originally Posted by slapped

@jeff I Know that Keeping it simple is Great, but the truth is you will NEVER Be able to Deal with the Big Boys of the Wholesale world unless you are a Legit Corp, and Take it from me IT IS WORTH IT, Quick example Just today, A Major Distributor Closes out NEW Kodak model M341, 12mp, 3x Optical, 5x Digital zoom Cameras for $49.00, You Cannot go wrong.

Dealing with these Major Distributors You get offers SENT to you like this EVERYDAY.

If you are Serious about selling online as I am, Its the ONLY Way to go,

Just my Opinion

Actually, I HAVE an LLC for another business. I usually sign up with distributors under that. The name could be for an online or offline company, so I have never yet been refused.

But the paperwork is HORRENDOUS! So when I cam back to the online world, I just did a simple DBA with a separate TAX-ID and ROT account.

[incniu]

So, C corp is better than LLC to do such wholesale/retail business?

Originally Posted by slapped

@jeff I Know that Keeping it simple is Great, but the truth is you will NEVER Be able to Deal with the Big Boys of the Wholesale world unless you are a Legit Corp, and Take it from me IT IS WORTH IT, Quick example Just today, A Major Distributor Closes out NEW Kodak model M341, 12mp, 3x Optical, 5x Digital zoom Cameras for $49.00, You Cannot go wrong.

Dealing with these Major Distributors You get offers SENT to you like this EVERYDAY.

If you are Serious about selling online as I am, Its the ONLY Way to go,

Just my Opinion

[incniu]

How much does it cost to get DBA and publish?


DO you need to pay someone to do it for you? or DIY?

Originally Posted by jeffweico

A d/b/a can also have an EIN. It is very common. DBA's are the simplest form of a business, and the profits just get reported on the owner's tax return. Usually, they are recorded at the county level and cost very little to file.

If you set up a corporation or an LLC, then you will need to file tax returns with the IRS, and annual reports with the state the coporation or LLC is located in.

A resale certificate is provided by your state department of revenue. You get it when you apply for a sales tax ID number so that you can collect and remit taxes in that state.

There are many advantages and disadvantages to each type of business, too numerous to go into detail here. You should see an attorney or tax specialist to see which one is right for you.

Myself, I like to keep it as simple as possible.

[GreenBean]

'Google' is your friend. Look at what state will help you in terms of expenses. (Some states are better than others). No reason you can not DIY unless you are lazy.

Again, as its aim is to get the best for your business, speak to an expert.
Forum is not that although the knowledge of users is vast. No way is the forum going to back you if you make errors and then come back and say 'but I got told on the forum'.
Google away

[slapped]

Originally Posted by incniu

How much does it cost to get DBA and publish?


DO you need to pay someone to do it for you? or DIY?

Chill, Here you go ALL Your awnsers are here: Incorporating & LLC Formation - Business Incorporation Service - Incorporate Business | Incorporate.com

I have used these guys, they are good, Cheap, and Fast

[GreenBean]

Originally Posted by incniu

How much does it cost to get DBA and publish?


DO you need to pay someone to do it for you? or DIY?

Give yourself a treat, incniu. You've asked many many questions and never hit the THANKS key. Try it, many users have taken time to help you. They deserve thanks. If a user bothers to give a URL, the very least they deserve is THANKS

[dennisjaneway]

I registered my LLC and build also Business Credit on that LLC without Personal Garantuee, so thats also one of the things you can do with LLCs or Corps.

[rsot]

GB tells it like it is. Very nice info Slapped - gets me interested in setting up a small business Canadawise.

[incniu]

I am getting a local CPA firm to register a C corp, which also offer inexpensive bookkeeping service.

After setting up a corp, how to find good wholesalers or is there discussion forum on that?

Thanks.

Originally Posted by slapped

Chill, Here you go ALL Your awnsers are here: Incorporating & LLC Formation - Business Incorporation Service - Incorporate Business | Incorporate.com

I have used these guys, they are good, Cheap, and Fast

[incniu]

Great to hear. Any resources of building business credit online?

Originally Posted by dennisjaneway

I registered my LLC and build also Business Credit on that LLC without Personal Garantuee, so thats also one of the things you can do with LLCs or Corps.

[slapped]

Originally Posted by incniu

I am getting a local CPA firm to register a C corp, which also offer inexpensive bookkeeping service.

After setting up a corp, how to find good wholesalers or is there discussion forum on that?

Thanks.

Wholesalers for WHAT?, ---- Banannas, or Ipods

Dude, When I first Started there was NO SUCH THING as the Internet, do you Know How hard it was then?

Use the Internet,, DIG---Like the Bible says---"SEEK and ye shall FIND"---

As for your Other Question, Go Read ALL the Information on the Website of the Link I gave you, It has the Awnser to your Business Credit, It also has ALL The Awnsers to Questions that You Have Not even Thought of Yet!!!, Like a Resale Certificate,,, Now, do Not ask what it is here, You Have the website, the awnser is there, you have an Accountant that you are paying, He Also Knows the Awnser.


Now, If you want to be Spoon Fed, and have Everything Laid out for you, This is NOT The place for it!!!

I am Quite sure that NO ONE one this Forum is your Mother, ONLY Mothers should spoon feed.

[incniu]

Thanks

Well, we are just discussing. Anyone can be willing or decline to offer anything.

I am digging these days on the internet for big wholesalers for different products, like electronics and home decorating items..

Also, will network more locally.

Originally Posted by slapped

Wholesalers for WHAT?, ---- Banannas, or Ipods

Dude, When I first Started there was NO SUCH THING as the Internet, do you Know How hard it was then?

Use the Internet,, DIG---Like the Bible says---"SEEK and ye shall FIND"---

As for your Other Question, Go Read ALL the Information on the Website of the Link I gave you, It has the Awnser to your Business Credit, It also has ALL The Awnsers to Questions that You Have Not even Thought of Yet!!!, Like a Resale Certificate,,, Now, do Not ask what it is here, You Have the website, the awnser is there, you have an Accountant that you are paying, He Also Knows the Awnser.


Now, If you want to be Spoon Fed, and have Everything Laid out for you, This is NOT The place for it!!!

I am Quite sure that NO ONE one this Forum is your Mother, ONLY Mothers should spoon feed.

[slapped]

I Tell what Im gonna do, I will give you the Easiest Method to Find all of the Wholesalers you want for ANY Product.

When you Decide on what product you want to Sell, CALL The Company that makes it, and Ask them for a List of Distributors, They will be MORE Than Happy to give it to you, Remember these Companies want to sell Their products, There are NO Secret Wholesale sources, thats ALL BS.

[incniu]

We are just sharing any possible useful or unuseful info here.

But internet is a good source to start to search and expand it.

Originally Posted by slapped

I Tell what Im gonna do, I will give you the Easiest Method to Find all of the Wholesalers you want for ANY Product.

When you Decide on what product you want to Sell, CALL The Company that makes it, and Ask them for a List of Distributors, They will be MORE Than Happy to give it to you, Remember these Companies want to sell Their products, There are NO Secret Wholesale sources, thats ALL BS.

[Hercules]

Originally Posted by slapped

@jeff I Know that Keeping it simple is Great, but the truth is you will NEVER Be able to Deal with the Big Boys of the Wholesale world unless you are a Legit Corp, and Take it from me IT IS WORTH IT, Quick example Just today, A Major Distributor Closes out NEW Kodak model M341, 12mp, 3x Optical, 5x Digital zoom Cameras for $49.00, You Cannot go wrong.

Dealing with these Major Distributors You get offers SENT to you like this EVERYDAY.

If you are Serious about selling online as I am, Its the ONLY Way to go,

Just my Opinion

Yes and you can find places that hold these pallets and ship for you too!

[slapped]

Originally Posted by Hercules

Yes and you can find places that hold these pallets and ship for you too!

True, there are also PLENTY of Good Cheap Logistics Companies out there as well.

[dennisjaneway]

Originally Posted by incniu

Great to hear. Any resources of building business credit online?

check out creditboard.com

then check the business credit section