About MichaelRica1
Rank 31875
74 followers Joined September 2022
Always wanted to start an online business but didn't know how to. Now thst I found Wealthy Affiliate, I know I can finally start

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asked in
Getting Started

I was told I should get an LLC for this, is that true? Please help me with this so I can proceed. Thank you all!

Not initially.

However, as business grows and you get established, you may then think about establishing a limited liability.

I would seek the advice of a professional.

Thanks Abie, sounds like a plan!

You're welcome :)

Sole proprietor will likely work, especially if you are not making much money yet!

Jeff

It is your business, and you can structure it any way you wish. It’s really hard to give a definite answer here as each state in the US each taxing authority, and each country worldwide have different rules.

My best advice is to reach out to your tax advisor and get their professional advice.

-Mike

You can structure your business any way you like. I personally prefer an LLC because of the protections it affords you. I believe it is the best way to go short of forming a corporation which I hold much disdain for.

You can simply do a DBA (Doing Business As) until you decide which way you want to go.

You don't have to do anything right away. It would suck if you set up an LLC and then later decided this business model wasn't for you.

I think most people simply plug away until they begin seeing they are going in a positive direction. Then you can decide which business entity type to go with. But keep giving it some thought along the way and make a decision when you need to.
Skillit

Thanks Skil-lit, sounds like a plan!

You can do this as a sole proprietor. You do not need to be a LLC.

Mel

Hi Mel, thanks for the quick reply. This LLC thing has been holing me back from progressing.

If you are making tons of money and want some protection a LLC could be helpful. I have been a sole proprietor for 27 years with multiple businesses in USA. Glad I could help.

Mel

Thanks Mel, so you've been doing fine without being an LLC, is that correct? No issues?

Great! Thanks Mel!

No issues Michael.

Mel

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Im conflicted right now. do i need to create an llc to do affiliatemarketing? please set me straight

Im conflicted right now. do i need to create an llc to do affiliatemarketing? please set me straight

asked in
Getting Started

I was told I should get an LLC for this, is that true? Please help me with this so I can proceed. Thank you all!

Not initially.

However, as business grows and you get established, you may then think about establishing a limited liability.

I would seek the advice of a professional.

Thanks Abie, sounds like a plan!

You're welcome :)

Sole proprietor will likely work, especially if you are not making much money yet!

Jeff

It is your business, and you can structure it any way you wish. It’s really hard to give a definite answer here as each state in the US each taxing authority, and each country worldwide have different rules.

My best advice is to reach out to your tax advisor and get their professional advice.

-Mike

You can structure your business any way you like. I personally prefer an LLC because of the protections it affords you. I believe it is the best way to go short of forming a corporation which I hold much disdain for.

You can simply do a DBA (Doing Business As) until you decide which way you want to go.

You don't have to do anything right away. It would suck if you set up an LLC and then later decided this business model wasn't for you.

I think most people simply plug away until they begin seeing they are going in a positive direction. Then you can decide which business entity type to go with. But keep giving it some thought along the way and make a decision when you need to.
Skillit

Thanks Skil-lit, sounds like a plan!

You can do this as a sole proprietor. You do not need to be a LLC.

Mel

Hi Mel, thanks for the quick reply. This LLC thing has been holing me back from progressing.

If you are making tons of money and want some protection a LLC could be helpful. I have been a sole proprietor for 27 years with multiple businesses in USA. Glad I could help.

Mel

Thanks Mel, so you've been doing fine without being an LLC, is that correct? No issues?

Great! Thanks Mel!

No issues Michael.

Mel

See more comments

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Create Your Free Wealthy Affiliate Account Today!
icon
4-Steps to Success Class
icon
One Profit Ready Website
icon
Market Research & Analysis Tools
icon
Millionaire Mentorship
icon
Core “Business Start Up” Training