Starting a Business to Run ALL My Websites

What kind of business should it be?

[wfernley]

Hey everyone,

I have 3 websites that I will be charging advertising space on. I want to run these three websites under one company name so I need to make up a company. I was curious what kind of company it should be. Should it be a publishing company?

What has everyone here done to make it easier on themselves when they run multiple websites and don't want to have multiple business names?

Thanks in advance for your help!

[teenwolf]

I would recommend an inc or llc in the advertising/marketing industry.

[Dinkar]

IMO, choose common name like 'ABC Solutions' Inc/LLC/Pvt. Ltd. (in India) for your company instead of Industry specific name. Sites related to any industry can be run under such name.

[ganderla]

I have several site I run and I have them all under one LLC. Make things so much easier when people write you checks and such. Make sure you talk to your accountant, but make sure you check into being taxed as an s-corp.

[percentages]

>What has everyone here done to make it easier on themselves when they run multiple websites and don't want to have multiple business names?

I do have multiple business names (3 for 700+ websites), but, I am trying to consolidate those :)

I now believe, out of trial and error, that one generic business name is the best approach from day one...we live and learn!

My preferrred business name (already owned) is totally generic, and falls under "Software Publishing" as its category.

If you make the "mistake" of generating too many business entities it becomes complex with legal filings, and it becomes tricky when you have to explain to clients why you no longer wish to trade with them using that name.

Getting it right on day one is the perfect solution IMHO, sometimes you have to go through the process to see why that is so ;)

[wfernley]

Great! Thanks for the information. I was wondering what type of business is best. All busineses I have starteed have been sole proprietor but if I get sued its all on me. I would like the company to be seperate so if something does come up then it goes against my business and not me.

So I should go with S-Corp or LLC.

[percentages]

>So I should go with S-Corp or LLC.

There are several threads here at WW on this subject for further info. :)

I believe that you need a good accountant to advise you on what will work best for you. It depends upon many things, but, where you live is a major factor IMHO.

I personally like S-Corps, but, they are not right for everyone.

A good accountant will also advise you that running your business under the "protection" of a limited liability entity of any type isn't 100% protection.....people can still come after you personally!

While talking to your accountant about this business issue also ask them about trusts :)

[ember]

I have a dozen sites and run them all under one company, an S-corp. I pay myself a salary and save on FICA tax that way. Run everything through the company so I have as many tax deductions as possible.

[wfernley]

But aren't there many fee's associated with corps? Like I make $300/month right now - which I am looking to increase. Maybe it would be best to go with sole-proprietor for the start and then make it a corp?

[ember]

The only reason to make it a corp is for the liability protection. The only reason, IMHO, to be an S-corp is for the liability and taxes protection. As a sole prop, you are wide-open to lawsuits and you pay fed, state tax, plus 15% self-employment tax, which is the killer. If you are an S-corp, you still pay the same fed and state taxes, but you only pay the 15% on your salary, not on all of your earnings.

I don't pay any extra fees for anything, except I do have to also pay uneployment taxes, which you don't as a sole prop (but unemployment taxes are fairly low). You should talk to an accountant who understands LLCs and S-corps to see which is best, but I like the S-corp format.

[Easy_Coder]

You could set up an s-corp and then create 3 DBAs (Doing Business As) for each of the other websites. That way you don't need to set up and maintain multiple companies.

At least I know you can do that in Florida, perhaps its different in your state.