I live in MA and currently run some blogging websites, but have dreams to expand to a broader range of media businesses. I have been reading about taking the next steps and it seems I might want to pursue an LLC in MA. I am wondering a few things, is it worth it to register the LLC then register dba's for all my various internet business entities I plan to run? Also, I am looking into purchasing a home in the future, and these will most likely be run out of my house, would it be in my best interest to purchase my home under the LLC?
Thanks in advance everyone!
As Tim pointed out, you probably won't be able to purchase your home under the LLC. But it's worth noting that you may be entitled to deduct a percentage of some of your home expenses on your tax return, if you qualify for a home office.
Unless you have all cash it is unlikely you can buy a home through an LLC. The normal mortgage companies do not lend to entities - that is a different type of loan.
I've got two small businesses in MA. One a sole proprietor, and one an LLC.
One intangible benefit is people take the LLC more seriously. Pretty much anything I've tried to do. Things like getting code signing certificates, bank accounts, credit cards, merchant accounts, insurance. Even customers take the LLC more seriously.
Set it up right, and you get a degree of protection from liability. That's huge for peace of mind for me.
But it does cost $500 a year here in filing fees, which is a bummer.