When we are creating our websites and businesses, how much "like" a business do we create it? Do we create an LLC? Do we set up different banking accounts? I am curious. A cousin of mine is a coach and I recently met with her. I don't know. I feel more confused now that I have met with her than I was before!
If it is just an affiliate marketing blog, do I need to set all of that up? How much money do I need to make before I should set things up? If I am selling courses...is that totally different thing?

If I have multiple websites, do I need to keep it all separate or can I combine things under one business?

I want to make sure that I am doing things correctly as I build my empire! LOL...

I would like to know if someone has had this experience and what you did. Thank you!

Karin

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Dadaz123 Premium
I would advise you go from simple to complex. Start off as a sole proprietor before becoming a limited Liabilty. You learn how to run your business by running it and learning from your mistakes.
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Karin13 Premium
Thank you for your reply.

Karin
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Dhind1 Premium
Definitely keep things simple for now. Save your receipts to use when you do need to set something up. But until then, keep it simple.,

Alex
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Karin13 Premium
I will keep it simple. I like simple! Thanks for your reply.


Karin
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JeffreyBrown Premium
Karin,

For simplicity, I would start out as a sole proprietor until the big money rolls in. I was once incorporated when I had the Locksmith Shop and a Used Car Dealership, along with property rentals, but I am a sole proprietor once again!

Jeff
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Karin13 Premium
Thanks Jeff. I'm expecting a flood of business soon!

Karin 😎
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JeffreyBrown Premium
Awesome, until a certain dollar amount is reached, or they are different businesses, I would remain a sole proprietor. The taxes are far less complex, and the write-offs are more abundant, as well, but that is just my take, Karin!

Jeff
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Karin13 Premium
Thanks. I think I will go with the sole proprietor option for now. Once I need to hire people, then I can worry about changing it.

Karin
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JeffreyBrown Premium
Yes, indeed, Karin! I f you hire writers and you spend less than $600 on each one, you can deduct it as "Subcontracting" as a sole proprietor as well!

Jeff
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RogerMackley Premium
I think I will be legally professional as I move on. Tax advice would be beneficial.
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ramr50 Premium Plus
In addition to affiliate marketing I am also a consultant. I wouldn't worry too much about setting up an LLC or anything like that until you are generating a consistent monthly income of 3k or more. Although creating an LLC can give you some leverage like separating your business credit vs. Your personal credit. This is advantages if you are looking for an advertising budget.
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ramr50 Premium Plus
Also, to answer the second part of your question, you would only need one llc to be an umbrella over all of your websites
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Karin13 Premium
Thank you for your answers! I am working on several things right now and I am trying to get all the ducks in a row, so to speak. I am very grateful for your replies! Thanks!

Karin 😎
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Christorv Premium Plus
Much appreciated Ralph 👌
I have multiple websites as well and wasnt sure I needed to set up an umbrella company. No money has come in as of yet so I havent been fretting to much about it.
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