Hard to believe this guys an attorney, he explains things clearly, without ego and understands why people may want to do stuff even if it’s not the best way. Great Listen!
Thank you for succinctly clarifying this in laymen's terms. I'm in this exact situation, and I feel that after watching this, I'm going to just simply set up another LLC.
Hi I highly appreciate the explanation LLC VS DBA just today before watching this video I opened a second LLC for another venture. After listening to you I am more cleared about my decision. And of course I subscribed and invite others to support this helpful channel
@@MahoganyMayhem From what I've been reading, you (LLC Owner) - endorse (sign the back of the check) - of the DBA payment. Your bank should be able to deposit it into your LLC account with the paper work from your state as a DBA LLC.
This is the most helpful video I’ve seen on having two LLC businesses and if I need two EINs. Very confusing for someone who hasn’t done it before. Thanks again!
Question: What are your thoughts on the following: - Our IP attorney shared something similar @10:16 - that holding the DBA as a asset inside our main (holding) LLC, that for our (software) company could create a new brand in a different vertical, and have the ability to sell the asset at a later time, without having to spin up a new LLC for every time we repurpose our software into a new vertical.
Thank you, this video was very informative and helpful. I am currently debating whether I should open a new LLC or DBA and this video answered all my questions and concerns.
Thank you! Your video broke it down to where I can understand. I am starting a new journey with becoming a small business owner, and I am feeling a bit overwhelmed at the moment.
Hi Jeanice. Thank you for your encouragement. Becoming a business owner can feel overwhelming at first, but I believe it gives much more power and control over life and income. Best wishes in your new endeavors!
❤❤❤ whaoo this lawyer breakdown like he explains to a first grader… he makes so simple to understand…. The English is so clear to understand… so far I love his Minesotta accent….
This was a great video. Thanks for all the insightful information. One question i was hoping would get answered is, if you set up a DBA for your existing business, should that DBA have its own EIN number, business bank accounts, accounting and other items like the initial entity?
Looking all over the Internet for this discussion thank you for articulating so brilliantly I’m here in California I have a mortgage company under an S Corp. and want to start an unrelated business I think is the way to go with dba w extra insurance. As you mentioned each corporation has expenses and it’s nice to put it under one umbrella
Thanks man! You really helped me understand how I want to manage my ideas. Since my business ideas spread across vastly different genres of business, I'll configure multiple legal entities when the time comes. One duck at a time, for now!
U dropped one in particular JEWEL tht was so golden !! I hv NEVEREDDDD heard of a series of LLC's..wow THANK U.. AND DAMN CALI. DONT ALLOW IT..BUT MY HOME STATE DO !! TENNESSEE DO ALLOW IT ! SHIT !!
This is an amazing breakdown!! I have to save this video because I am thinking about having a second business that are unrelated to each other. Thank you!
you are extremely knowledgeable. a lot of tax ppl are telling us to not get multiple llc but they don't know the alternatives except the traditional alt. DBA... I am now reading, researching serial llc's now. I believe this is the best way place to start collecting data on multiple entity structures for start up companies that need to put other unrelated but necessary llc's under a holding company...thanks for guiding in a great direction...I have a place to investigate and learn more b4 making a decision
Thanks for your kind words, TheTeaM.BayArea. If you have quick questions, feel free to post them as a comment and I will do my best to create an educational video on them.
I so appreciate how clearly you explain things, so easy to understand 🥳 So if you keep your multiple businesses under one LLC to start off all those use the same EIN is what I'm guessing..due to them being under that LLC umbrella so to speak?
Very helpful. Thank you for being so organized with the time bullet points. However, I listened to everything and I found all that you said very relevant and valuable. Thanks again!
Thanks for posting such an interesting and useful video. My first busines was an Ltd. in Canada and my second was a DBA. I had separate insurance for both companies. Looking forward to learning more from your channel.
Hey Aaron, great video dude! Quick question for you though. Do I need an new EIN to dba or would I use the existing EIN that belongs to the LLC using the dba?
As a performing artist, considering what to set up, I want minimal paperwork and overhead. I was thinking of doing a sole proprietorship with DBA instead of an LLC, because what is somebody going to sue me for playing a bad song? 😂
Normally I watch these videos and I lose track of what is being said because I was trying to process something they sped through earlier. This video was very easy to follow and understand. You have a knack for this. Keep up the good work! Thanks for the info!
Hi Ryan. That means a lot to me. Thank you for your encouragement. There is a lot of negativity in the world, but you are someone spreading positivity and love. You are making the world a better place. I appreciate that we have connected.
Haha. Thanks, Kristina. That reminds me of the old quote, “I would have written a shorter letter, but I did not have the time.” It's tough being concise.
Thank you very much for the different breakdowns and scenarios. I am a serial entrepreneur and find that I am working on a 3 business. I am currently a virtual tax preparer, I also have a mobile Notary public business. I have a large family so since 1997 I have been doing party planning for my family and have always found it to be a sweet spot for me because its very fun, and who doesn't love a celebration. These business all currently work under my power but my main Llc is seasonal and the mobile business is on demand and per diem. This new venture will be a separate space with the option to customize a party package that is dropped off and picked up after. I plan to have insurance cover the rental and party planning. But since the nature of the 3rd business is bouncy house functions I may need an LLC to handle the full liability of it. My only question is if I continue with just a DBA on the rentals I am able to get an EIN for the rental business? TIA for your time and competence in this realm.
Thanks for taking the time to comment. Here is a potentially helpful resource: aaronhall.com/maximize-potential-and-protection-ein-and-llc-for-businesses/
I originally launched my LLC for my at home business doing small personalization items for events- cups, favor tags, t shirts, cake toppers etc. I just recently launched a now very successful photobooth business and have been using the same LLC I had originally created. I am also now doing events on a larger scale and decorating for them. Should I open a new LLC for my photobooth business and use my original LLC for the event decorating? I just find it so easy to have just one business account and one accounting app
Thanks for the info. Few questions 1. If you create a dba , can you still use both the dba name and the original LLC name? Or do you have to use the dba name moving forward? 2. When opening a bank account, do you use the same EIN for the dba and the LLC? Would the bank let you have multiple banks for separate dbas using the same EIN? I know with your SSN, you can have multiple bank accounts. 3. Last question I promise. Do you have to announce to the public that you're using a dba and disclose the original LLC? Thank you.
1. You can use both names. 2. A DBA and LLC share the same EIN. You can have multiple bank accounts under the same EIN. 3. State law requires a public notice of some sort.
I have an existing LLC , I'm interested in properly converting that to a holding company if possible or creating a new holding company and then putting everything that I have under a Trust. Can you help me with setting these up properly or can you recommend someone that can do both for me?
THANK YOU. I’ve been trying to get this *SIMPLY* explained to me as this business is steady but I have another (unrelated) blooming; this helped me clarify what I truly needed and feel more secure in choosing to just do two LLCs
Thank you! Very helpful. You are in MN, do you also practice in Wisconsin or do you happen to know if Wisconsin allows for Serial LLCs? Thank you so much!
Thank you for sharing your thoughts. Here is a potentially helpful resource: aaronhall.com/choosing-between-another-llc-or-a-dba-for-your-new-business-venture
Great question. Since these are all the same business, they can share the same bank account. For example, if your friends call you Pat and Patrik, you don’t need to have separate bank accounts just because you go by a couple different names. Likewise, your business can have a single account at the bank for multiple DBAs. If you want, you could have a separate bank account for each DBA, if that was somehow helpful for your business.
Thank you for making this video! I feel much more informed now. Do you have any videos about how you handle your TH-cam as a business? Is it it another LLC, DBA, or just an aspect of marketing for your attorney brand?
Great question! As a general rule, TH-cam can be treated like all other other advertising channels, all part of the business being marketed. You don’t need a separate entity for TH-cam unless you are building a separate business on TH-cam (e.g. influencer business). From my situation, I don’t see my channel as advertising; I see it as educational-a service to the community. I believe that as we obtain knowledge, we have a duty to share that knowledge to empower others. I believe attorneys have a duty to use their expertise to help others-through teaching, pro bono services, community volunteering, or other means.
Aaron - thanks for this video, it was very informative! I have a question though: if I set up a DBA instead of forming a separate LLC, does the DBA have to have its own EIN?
Wonderful, complete and clear information, thank you Aaron! I have a single member LLC that does website design. The assets of the company are 2 computers. I just opened a DBA under the LLC to conduct surfboard rentals during the summer. The rentals take place through an online platform (on the web), but other than that the two activities are not related. I am working on getting liability insurance in place for the DBA rental activity, which poses the greater liability risk, and has more assets. As you stated, I am planning to spin the DBA into a separate LLC once the business proves itself. No insurance company wants to cover my web business and rental business under one plan, as the business activities are too disparate. Web design vs surfboard rentals. What is your general take on my approach? I have someone who says they will insure the DBA activity alone, but not the web design business (under the same plan). Thank you in advance!
I have created a DBA for my business. It is related and makes the most sense for now. However, one question not answered, as you did for LLC’s, is how to set up EIN for the DBA. My understanding is that all payments should be made out to my real LLC name and never accept payment that has the DBA name. Is this correct?
I appreciate your message. Thank you for sharing your thoughts. Here is a helpful resource: aaronhall.com/maximize-potential-and-protection-ein-and-llc-for-businesses
Do I need to use a DBA for multiple online-only businesses? Physical products will never enter the state I reside in, nor will there be any store front. thanks
2 Questions: If I do a DBA do I still need two EINs? If its a Serial LLC, would I need two EINs? I currently have a Real Estate Service Business which is an LLC. The other business I am starting is also in real estate just in a different lane of real estate than the first
Generally, a DBA should use the same EIN as the LLC. Minnesota doesn’t have serial LLCs, so I don’t have a lot of experience with them. As always, please remember this is general educational information. You should use this information to identify issues to discuss with your professional advisors, not as a replacement for a professional advisor.
Does changing the name of an LLC, by doing a DBA, change anything legally? As far as liability protection, taxes, etc, or would it just simply be a name change? For example, if John Smith electronics LLC changes their name to Smitty electronics?
Hi Aaron, This was a good video, thanks. I have a active LLC and want to add a DBA under it, do I have to register the Trade Name as a business in order for me to do so? My business is in Maryland.
That is great to hear. Thank you for sharing your thoughts. Here is a potentially helpful resource: aaronhall.com/can-you-use-a-single-llc-for-multiple-dbas-for-multiple-businesses/
Hard to believe this guys an attorney, he explains things clearly, without ego and understands why people may want to do stuff even if it’s not the best way. Great Listen!
Ryan, thanks for your kind note. Positive comments like these are very encouraging.
Agree with you
Hahahaha!!! Love this. Totally agree. Love your stuff and slow and concise work Aaron.
@@ryantunison5433 that’s the reason I subscribed! Great work @Hall
Best description I've found - thank you for being clear and covering all the details. For some reason this stuff is hard to wrap my head around!
Hi Christin. Thanks for your encouragement. Your kind note helps motivate me to keep producing videos.
This was awesome and a clear explanation
Thank you for succinctly clarifying this in laymen's terms. I'm in this exact situation, and I feel that after watching this, I'm going to just simply set up another LLC.
That is great to hear. Best wishes, MadMarche.
Thank you for the clarification. I'm in this exact situation, I'm going to just simply set up another LLC
Hi I highly appreciate the explanation LLC VS DBA just today before watching this video I opened a second LLC for another venture. After listening to you I am more cleared about my decision. And of course I subscribed and invite others to support this helpful channel
Thank you! Too many businesses need easily digestible legal tips and advice. Looking forward to seeing more content like this from your channel!
Thanks for your encouraging note. Best wishes in your business!
Blessings thanks for the advice. You’ve answered all my questions. And things to consider.
That is great to hear. Thanks for your kind note.
Super clear explanation, it answered 4 questions I had when I was looking for only one. Thank you very much 👍🙂
That is great to hear. Thanks for your kind note.
Question: Who do clients write a check to? Main Company LLC or Second-Brand-Name-DBA when your business checking account is with Main-Company-LLC?
Answer this please
@@MahoganyMayhem From what I've been reading, you (LLC Owner) - endorse (sign the back of the check) - of the DBA payment. Your bank should be able to deposit it into your LLC account with the paper work from your state as a DBA LLC.
Thanks for your question. This video might be potentially helpful: th-cam.com/video/_8VN7w3_OeM/w-d-xo.html
This is the most helpful video I’ve seen on having two LLC businesses and if I need two EINs. Very confusing for someone who hasn’t done it before. Thanks again!
Glad it was helpful! Thanks for your kind note.
Really great information and explanation. I will be setting up another LLC now. 👍
Thanks for your encouraging note. Best wishes in your business!
This was the best broken down explanation i have ever watched!!
I appreciate your feedback. It helps me improve for future videos. Best wishes to you, Edward.
Just watched this for a second time. Immensely helpful. Thanks!!
Thank you for your kind words.
Question: What are your thoughts on the following: - Our IP attorney shared something similar @10:16 - that holding the DBA as a asset inside our main (holding) LLC, that for our (software) company could create a new brand in a different vertical, and have the ability to sell the asset at a later time, without having to spin up a new LLC for every time we repurpose our software into a new vertical.
Thanks for your question. This video might be potentially helpful: th-cam.com/video/RqTeKVDSD0A/w-d-xo.html
Thank you, this video was very informative and helpful. I am currently debating whether I should open a new LLC or DBA and this video answered all my questions and concerns.
Thanks for your encouraging note. Best wishes in your business!
Thank you! Your video broke it down to where I can understand. I am starting a new journey with becoming a small business owner, and I am feeling a bit overwhelmed at the moment.
Hi Jeanice. Thank you for your encouragement. Becoming a business owner can feel overwhelming at first, but I believe it gives much more power and control over life and income. Best wishes in your new endeavors!
❤❤❤ whaoo this lawyer breakdown like he explains to a first grader… he makes so simple to understand…. The English is so clear to understand… so far I love his Minesotta accent….
Thank you for sharing your thoughts.
I highly appreciated the explanation LLC vs DBA just today I registered an LLC as a secondary I was
This was a great video. Thanks for all the insightful information. One question i was hoping would get answered is, if you set up a DBA for your existing business, should that DBA have its own EIN number, business bank accounts, accounting and other items like the initial entity?
I appreciate your message. Thank you for your question. Find the full video and explanation here: th-cam.com/video/E6jafQRTSlk/w-d-xo.html
Looking all over the Internet for this discussion thank you for articulating so brilliantly
I’m here in California I have a mortgage company under an S Corp. and want to start an unrelated business I think is the way to go with dba w extra insurance. As you mentioned each corporation has expenses and it’s nice to put it under one umbrella
Glad it was helpful. Thanks for your kind note. Best wishes in your business.
Just found your channel. Excellent Content - another sub for you sir!
Thanks for your kind note.
Thanks man! You really helped me understand how I want to manage my ideas. Since my business ideas spread across vastly different genres of business, I'll configure multiple legal entities when the time comes. One duck at a time, for now!
Thanks for your encouraging note. Best wishes in your business!
VERY VERY helpful with the DBA info...Thank you.
Glad it was helpful! Thanks for your kind note.
This was very informative and easy to understand; thank you!
Glad it was helpful! Thanks for your kind note.
This is so helpful I’ve been trying to figure out what to do and you made it clear
Thank you for the encouraging words.
U dropped one in particular JEWEL tht was so golden !! I hv NEVEREDDDD heard of a series of LLC's..wow THANK U.. AND DAMN CALI. DONT ALLOW IT..BUT MY HOME STATE DO !! TENNESSEE DO ALLOW IT ! SHIT !!
This is an amazing breakdown!! I have to save this video because I am thinking about having a second business that are unrelated to each other. Thank you!
Thanks for the encouraging words. I wish you the best in your businesses.
you are extremely knowledgeable. a lot of tax ppl are telling us to not get multiple llc but they don't know the alternatives except the traditional alt. DBA... I am now reading, researching serial llc's now. I believe this is the best way place to start collecting data on multiple entity structures for start up companies that need to put other unrelated but necessary llc's under a holding company...thanks for guiding in a great direction...I have a place to investigate and learn more b4 making a decision
Serial LLC ?
Thanks for your kind words, TheTeaM.BayArea. If you have quick questions, feel free to post them as a comment and I will do my best to create an educational video on them.
Thank you for talking about serial LLCs! I'm in Texas where this is allowed. 👍
Glad it was helpful. Thanks for your kind note.
Thank you for this very informative video!
Glad it was helpful.
I so appreciate how clearly you explain things, so easy to understand 🥳 So if you keep your multiple businesses under one LLC to start off all those use the same EIN is what I'm guessing..due to them being under that LLC umbrella so to speak?
Exactly what I needed. Earned my sub
That is great to hear. Thanks for your kind note.
Exactly the info I was looking for. Thank you!
Eric, that is great to hear. Thanks for your kind note.
Great helpful video, very informative!
Thanks, Uber. Much appreciated.
Awesome video! Generic and educational way was amazing!
Thanks for the information. It is very helpful.
Glad it was helpful! Thanks for your kind note.
Very helpful. Thank you for being so organized with the time bullet points. However, I listened to everything and I found all that you said very relevant and valuable. Thanks again!
Thank you, Brandon.
Great explanation. Thank you.
Thanks, @justacontrarian. Much appreciated.
@@Hall You're welcome. This was very helpful.
This is the exact question that I was asking myself. ..thank you very much
Glad it was helpful! Thank you for sharing your thoughts.
Thanks for posting such an interesting and useful video. My first busines was an Ltd. in Canada and my second was a DBA. I had separate insurance for both companies. Looking forward to learning more from your channel.
Is a DBA a Separate Company? 
very helpful.... crystal clear information. Thank you
You're very welcome!
Thanks for this it answered my general questions to plan. I of course will consult an attorney when the time comes
Glad it was helpful! Thanks for your kind note.
This was super helpful thank you! subscibed!
Glad it was helpful! Thanks for your kind note.
Thank you for good information ❤
Glad it was helpful. Thanks for your kind note.
Very helpful info. Best explanation I’ve found thus far! Thank you!
Jalyn, thank you for your encouraging note.
AWESOME INFORMATION , WELL DONE VIDEO
I appreciate your thoughtful words. Thank you!
Great channel keep up the great work
Andrew, thanks for your kind words. Feel free to let me know if there any questions or topics that would be helpful to cover.
Thank you so much. I almost hired someone that information! You are the best!
Glad it was helpful! Thanks for your kind note.
solid gold material. I was looking from this answer finally i got it. Thanks
Glad it was helpful! Thanks for your kind note.
Very helpful and easy to digest. Thanks
Glad it was helpful! Thanks for your kind note.
Incredibly helpful! Thank you! Especially the stuff about insurance, and successor liability :)
Thank you for your kind feedback.
U really went in, in this video...thanks.
That is great to hear. Thanks for your kind note.
Fantastic job Aaron !
Thanks, Devon. I appreciate your kind words.
Hey Aaron, great video dude!
Quick question for you though. Do I need an new EIN to dba or would I use the existing EIN that belongs to the LLC using the dba?
I appreciate your message. Thank you for your question. This video might be potentially helpful: th-cam.com/video/eZo2JYOYbyo/w-d-xo.html
Great video, useful information. I did open LLC and added DBA , EiN required for each ?
One EIN. Because it’s only one business entity.
Thank you sir, you're awesome. Many many blessings to you
Thanks for your encouraging note.
Thank you for your content. This was a great explanation!! && helped me with decision making. New Subbie
That is great to hear. Thank you for your kind feedback.
thank you sir! The education is totally awesome!
Steven, kind words like yours motivate me to make more videos. Thank you.
If I attach a DBA to my already established LLC can I use the same virtual address for both?
Can you use the same address for a DBA and LLC? 
As a performing artist, considering what to set up, I want minimal paperwork and overhead. I was thinking of doing a sole proprietorship with DBA instead of an LLC, because what is somebody going to sue me for playing a bad song? 😂
Normally I watch these videos and I lose track of what is being said because I was trying to process something they sped through earlier. This video was very easy to follow and understand. You have a knack for this. Keep up the good work! Thanks for the info!
Hi Ryan. That means a lot to me. Thank you for your encouragement. There is a lot of negativity in the world, but you are someone spreading positivity and love. You are making the world a better place. I appreciate that we have connected.
Wow. That answered my question... Thank you so much! Subscribed! :D
That’s great to hear. Thanks for the kind note.
Thank you for keeping it short
Haha. Thanks, Kristina. That reminds me of the old quote, “I would have written a shorter letter, but I did not have the time.” It's tough being concise.
Thank you so much. This was very helpful.
Thank you for your kind words of encouragement, Phillip.
This is great information.. thank you
That is great to hear. Thanks for your kind note.
Thank you very much for the different breakdowns and scenarios. I am a serial entrepreneur and find that I am working on a 3 business. I am currently a virtual tax preparer, I also have a mobile Notary public business. I have a large family so since 1997 I have been doing party planning for my family and have always found it to be a sweet spot for me because its very fun, and who doesn't love a celebration. These business all currently work under my power but my main Llc is seasonal and the mobile business is on demand and per diem. This new venture will be a separate space with the option to customize a party package that is dropped off and picked up after. I plan to have insurance cover the rental and party planning. But since the nature of the 3rd business is bouncy house functions I may need an LLC to handle the full liability of it. My only question is if I continue with just a DBA on the rentals I am able to get an EIN for the rental business? TIA for your time and competence in this realm.
Thanks for taking the time to comment. Here is a potentially helpful resource: aaronhall.com/maximize-potential-and-protection-ein-and-llc-for-businesses/
I originally launched my LLC for my at home business doing small personalization items for events- cups, favor tags, t shirts, cake toppers etc. I just recently launched a now very successful photobooth business and have been using the same LLC I had originally created. I am also now doing events on a larger scale and decorating for them. Should I open a new LLC for my photobooth business and use my original LLC for the event decorating? I just find it so easy to have just one business account and one accounting app
Thanks for the info. Few questions
1. If you create a dba , can you still use both the dba name and the original LLC name? Or do you have to use the dba name moving forward?
2. When opening a bank account, do you use the same EIN for the dba and the LLC? Would the bank let you have multiple banks for separate dbas using the same EIN? I know with your SSN, you can have multiple bank accounts.
3. Last question I promise. Do you have to announce to the public that you're using a dba and disclose the original LLC?
Thank you.
1. You can use both names.
2. A DBA and LLC share the same EIN. You can have multiple bank accounts under the same EIN.
3. State law requires a public notice of some sort.
@@Hall thank you.
Excellent video
Thank you for your kind feedback.
I have an existing LLC , I'm interested in properly converting that to a holding company if possible or creating a new holding company and then putting everything that I have under a Trust. Can you help me with setting these up properly or can you recommend someone that can do both for me?
Great question, @lifespanglo9370. I will cover that in our next live Q&A: www.youtube.com/@Hall/live
Great video! I learned a lot! 🙌🏾
Thanks, Nebu. Glad it was helpful!
Thank you. Great information.
Thanks for your kind note.
Great video! Thanks
Thank you, Ronisse.
THANK YOU. I’ve been trying to get this *SIMPLY* explained to me as this business is steady but I have another (unrelated) blooming; this helped me clarify what I truly needed and feel more secure in choosing to just do two LLCs
Thanks for the encouraging words. I wish you the best in your businesses.
This was extremely helpful and quite honestly one of the best breakdowns. Thanks!
I appreciate your thoughtful words. Thank you!
Great Video! Very informative.💯
That is great to hear. Thanks for your kind note.
Thank you so much, for the information.
Glad it was helpful! Thanks for your kind note.
Can you form a LLC to manage the other LLC’s? And what’s the liability by forming this LLC?
I appreciate your message. Here is a potentially helpful resource: aaronhall.com/can-you-form-an-llc-to-manage-other-llcs/
Thank you! Very helpful. You are in MN, do you also practice in Wisconsin or do you happen to know if Wisconsin allows for Serial LLCs? Thank you so much!
Thanks for your kind note. I appreciate the question. We have added this to the list of questions to potentially be answered in a future video.
So you only need a DBA (fictitious name) if you are setting up an extension of your current LLC. As in, you don't need to get a DBA AND your LLC.
Thank you for sharing your thoughts. Here is a potentially helpful resource: aaronhall.com/choosing-between-another-llc-or-a-dba-for-your-new-business-venture
Thank you so much this was great information!
If I get a DBA to an LLC can I get a EIN for the DBA?
They both share the same EIN
So helpful thank you
Glad it was helpful! Thanks for your kind note.
Good day, Aaron Hall, Attorney. it is surprisingly surprising video. thank. :)
Thanks for your kind note.
Great video thanks!
Glad it was helpful! Thanks for your kind note.
Great video, Thank you! How do I go about structuring my bank accounts if I have one llc and two DBA businesses under the llc? TY
Great question. Since these are all the same business, they can share the same bank account.
For example, if your friends call you Pat and Patrik, you don’t need to have separate bank accounts just because you go by a couple different names. Likewise, your business can have a single account at the bank for multiple DBAs. If you want, you could have a separate bank account for each DBA, if that was somehow helpful for your business.
Thank you and I subscribed
That is great to hear. Thank you.
Very helpful
Thanks for your kind note.
Thank you for making this video! I feel much more informed now. Do you have any videos about how you handle your TH-cam as a business? Is it it another LLC, DBA, or just an aspect of marketing for your attorney brand?
Great question! As a general rule, TH-cam can be treated like all other other advertising channels, all part of the business being marketed. You don’t need a separate entity for TH-cam unless you are building a separate business on TH-cam (e.g. influencer business).
From my situation, I don’t see my channel as advertising; I see it as educational-a service to the community. I believe that as we obtain knowledge, we have a duty to share that knowledge to empower others. I believe attorneys have a duty to use their expertise to help others-through teaching, pro bono services, community volunteering, or other means.
I have a LLC. Should I use a separate EIN for the DBA?
A DBA uses the same EIN.
Aaron - thanks for this video, it was very informative! I have a question though: if I set up a DBA instead of forming a separate LLC, does the DBA have to have its own EIN?
Does the DBA for an LLC need its own EIN?
Insurance is going to be great for my businesses. Thanks for the info!
You don’t need multiple business entities to avoid risk. Do this instead!
I have a Photo Booth rental business but want to venture into a vending machine business. Would a DBA work for this?
Wonderful, complete and clear information, thank you Aaron! I have a single member LLC that does website design. The assets of the company are 2 computers. I just opened a DBA under the LLC to conduct surfboard rentals during the summer. The rentals take place through an online platform (on the web), but other than that the two activities are not related. I am working on getting liability insurance in place for the DBA rental activity, which poses the greater liability risk, and has more assets. As you stated, I am planning to spin the DBA into a separate LLC once the business proves itself. No insurance company wants to cover my web business and rental business under one plan, as the business activities are too disparate. Web design vs surfboard rentals. What is your general take on my approach? I have someone who says they will insure the DBA activity alone, but not the web design business (under the same plan). Thank you in advance!
Can You Get Business Insurance If Your Company Has Very Different Products or Services?
I have created a DBA for my business. It is related and makes the most sense for now. However, one question not answered, as you did for LLC’s, is how to set up EIN for the DBA. My understanding is that all payments should be made out to my real LLC name and never accept payment that has the DBA name. Is this correct?
I appreciate your message. Thank you for sharing your thoughts. Here is a helpful resource: aaronhall.com/maximize-potential-and-protection-ein-and-llc-for-businesses
GREAT VIDEO BRO..BRAVO
Thank you for your kind feedback.
Do I need to use a DBA for multiple online-only businesses? Physical products will never enter the state I reside in, nor will there be any store front. thanks
Thanks for your kind note. Here is a potentially helpful resource: aaronhall.com/do-you-need-a-dba-for-owning-multiple-businesses
2 Questions: If I do a DBA do I still need two EINs? If its a Serial LLC, would I need two EINs? I currently have a Real Estate Service Business which is an LLC. The other business I am starting is also in real estate just in a different lane of real estate than the first
Generally, a DBA should use the same EIN as the LLC. Minnesota doesn’t have serial LLCs, so I don’t have a lot of experience with them. As always, please remember this is general educational information. You should use this information to identify issues to discuss with your professional advisors, not as a replacement for a professional advisor.
@@Hall great thank you for that information. I live in Indiana. I will find an attorney or CPA to discuss this further.
Thank you!
Does changing the name of an LLC, by doing a DBA, change anything legally? As far as liability protection, taxes, etc, or would it just simply be a name change? For example, if John Smith electronics LLC changes their name to Smitty electronics?
I appreciate your message. Thank you for your questions. This video might be potentially helpful: th-cam.com/video/OmzZTl5JaYc/w-d-xo.html
Definitely helpful!
Thank you, Massiel.
Hi Aaron,
This was a good video, thanks.
I have a active LLC and want to add a DBA under it, do I have to register the Trade Name as a business in order for me to do so?
My business is in Maryland.
That is great to hear. Thank you for sharing your thoughts. Here is a potentially helpful resource: aaronhall.com/can-you-use-a-single-llc-for-multiple-dbas-for-multiple-businesses/