What Kind of Business Entity Do You Operate? | DomainInvesting.com
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What Kind of Business Entity Do You Operate?

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I read Sully’s Blog’s interview of Deborah Sweeney of MyCorporation Business Services, and it made me wonder what percentage of people in the domain industry have incorporated their domain business, be it LLC, S Corp, Inc…etc.

For tax and liability purposes, I operate two different LLCs for my businesses. Each business is its completely separate entity, and I don’t intermingle finances, expenses, or domain names. I maintain separate sets of books and bank accounts for each business. I also keep all personal expenses separate from my businesses for obvious reasons.

I am wondering whether domain investors who read my blog have taken steps to legally separate their personal and business accounts/finances. Please use the poll below to answer, and feel free to let others know what type of entity you operate.



About The Author: Elliot Silver is an Internet entrepreneur and publisher of DomainInvesting.com. Elliot is also the founder and President of Top Notch Domains, LLC, a company that has sold seven figures worth of domain names in the last five years. Please read the DomainInvesting.com Terms of Use page for additional information about the publisher, website comment policy, disclosures, and conflicts of interest.


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Comments (10)

    Nadia

    Yes. I have an LLC, and also keep separate books & finances from my second business (which is music related).

    October 18th, 2010 at 5:01 pm

    Mike Sullivan

    Thanks for the mention, Elliot.

    It would be interesting to know who has gone with LLC or s-corp and why… would be an interesting discussion.

    October 18th, 2010 at 10:43 pm

    Bill

    Hello:

    Can anybody explain why moonwalk.com sold for such a cheap price on namejet on Saturday. $6000

    Thanks

    October 18th, 2010 at 10:55 pm

    Poor Uncle

    With blogging, is it really possible to separate the “individual” blogger from its corporation/llc that owns the blog? I notice some domain parking companies and domainers are based outside of the U.S.A. Seems like a strategic move.

    October 19th, 2010 at 2:15 am

    Yitzchok

    I have a media business, but so far it’s all been a one man show, and I haven’t had the money or time to actually look into how I should be setting things up.
    I guess this is a good reminder to add it to the list, and set something up.

    October 19th, 2010 at 4:46 am

    LindaM

    An evil empire hellbent on world domination :)

    October 19th, 2010 at 5:13 am

    Dotmainer

    @Poor Uncle
    “I notice some domain parking companies and domainers are based outside of the U.S.A. Seems like a strategic move.”

    No, there are people outside of usa ? There is Internet ?!
    Imagine that what would happen if they have internet, and start domaining …. maybe they create some domain marktplace (lets call it sedo) … or parking company (Namedrive).
    Ah forget it, there are no people outside of USA… an if i’m sure they dont have internet. Why would they use some Military Technology?!

    October 26th, 2010 at 5:25 am

    Poor Uncle

    @Dotmainer,

    Let me clarify. I meant to say U.S. company strategically based outside of the U.S. You probably already knew that was what I meant to say.

    October 26th, 2010 at 6:19 am

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