Corporation

[jcpoolgod]

I'm planning on making a successful YouTube channel..I also plan on selling books and other stuff..what business structure should I use? And what's the best place to go through to set up my business ---and another question what should I do about trademarking my brand and what not

 

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[Chaseb731]

You don't need a business structure for that. No need to trademark until you start, and even then, you probably don't have to worry about it for a while. Your successful youtube channel probably won't be happening for a while.

 

[jcpoolgod]

Try to answer your first question on the businss structure first -

For most of the business, there are five ways to get started - sole proprietor, Partnership, LLC, S Corporation and C Corporation. It's not required for the sole proprietor to get EIN/FEIN (Federal Employer Identification Number), you can just use your SSN to report the business income or loss on Sch C of 1040. You have to get an EIN, if you are conducting business as partnership, LLC, S Corporation or C Corporation.

1. Which legal form of business to choose, sole proprietor, Partnership, LLC, S Corporation and C Corporation? It's suggeted to choose LLC, S Corporation or C Corporation to get the limited liablity protection. Note that LLC and S Corporation may help you to pay less tax as it's single layer of income tax. However, C Corproation is the best form to get funding from Venture Capital, go IPO, etc. You can read this post and relevant links, and make the decision based on your case. http://bzelf.com/legal-form-of-business/
2. Here is the general startup checklist: http://bzelf.com/start-up-checklist/
3. Here is the checklist for C corporation: http://bzelf.com/checklist-for-starting-a-corporation/

Regarding business name, here is some get-started info: http://bzelf.com/choose-a-corporate-name/

- check the name's availability, start with the reservation with your chosen state's SOS first. Work on trademark later.


let us know if you have any follow-up questions, and we will write more posts.

*******how much does it cost to set this all and how long does it take? I appreciate all your help.

 

[jcpoolgod]

and what if i don't get all this in place then everything takes off quickly?

 

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[DeletedUser394]

With all due respect, these are very basic questions, that are entirely location dependent.

Use google, start trying to get traction/build an audience for this youtube channel, then worry about this stuff. Because it'll probably be a lot harder than you think.

You're trying to come up with a solution for a problem that you don't have.

 

[Esquire]

Odds are ... the only net result of incorporation will be a lot of unnecessary fees paid to the government and some pain in the a$$ paperwork.

It is highly unlikely you will need ... or even be able to avail yourself of ... the limited liability protections that entice many to incorporate.

So I say save your money ... and operate as a solo dba for now.

Otherwise ... I would recommend incorporating as a Wyoming LLC.

 

[BlakeIC]

and what if i don't get all this in place then everything takes off quickly?

Chances are it won't, successful youtube channels don't happen overnight

unless you have other big names promoting you

Don't worry about a business license at all right now, wait till the ball has already been rolling for some time even then you probably still wouldn't need it

 

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[EntreAdvisor]

and what if i don't get all this in place then everything takes off quickly?

Worst case is you register your business when you gain momentum or traction. Right now, just track your expenses. When you make some income, come back and talk. A few other comments:

• Talk to a tax CPA before making decisions on business structure
• Do not use a "box" service like legal zoom to set it up. That is both a waste of money and doesn't give you the "why" behind why you are choosing one structure over another
• The guys are spot on - it is location dependent and you are just signing up to pay fees and do paperwork