I want to keep all my REI money seperate from my personal money. So if I open a new checking acct (Shaun Ramos DBA company name) does the company name have to be a legal company. Do you actually register the co. or whatever you have to do ( I don’t even know what would be involved)?
read the posts on here regarding:
LLC
S-Corp
General Partnership
Asset Protection
a DBA is filed at your local county offices, something like licensing etc. - all it is is an entity that allows you to Do Business As something other than yourself. - it’s a sole proprietorship or partnership (if you have a partner). it allows you to advertise your business entity because it is filed with county and recognized as such.
if you simply just put a sign outside or put an ad in the paper as JOEBLOW Realty Group - WITHOUT filing at least a DBA - your business entity advertisement is false because you have not filed it with the county you live in. DBA’s cost like 40 bucks. You take the DBA and get your FIEN number and state cert of authority to collect sales tax if you need to…you can then also get a business account and “keep your rei money seperate” from whatever.