Business Greetings GFYers! SSNs, EINs, LLCs, and Sole Proprietors, Oh My!

[siouxblue]

Hello everyone!

I am a long-time web developer and internet marketer, but totally new to the adult side of things (except as a consumer). I am new here and looking forward to contributing where I can.

I have an idea for a website that, if successful, will generate its income from affiliate links to adult subscription porn sites. If not successful, it will just be a hobby web site.

If it does generate income, I want to keep that separate from my other businesses. I don't know if it's worth going through the trouble of setting up an LLC, getting an EIN for it, registering it with my state, county, and city, etc., blah, blah, blah. I'm in the United States.

On the other hand, I'm a little uneasy about operating it as a sole proprietorship and giving my social security number and personal information, instead of an LLC's information to various affiliate programs until I see if it will be profitable.

I'm curious about what others have done and what insight you might be willing to share.

Thanks,
Sioux

[Marshal]

Originally Posted by siouxblue

If it does generate income, I want to keep that separate from my other businesses. I don't know if it's worth going through the trouble of setting up an LLC, getting an EIN for it, registering it with my state, county, and city, etc., blah, blah, blah. I'm in the United States.

Uou can establish an LLC fairly cheaply and quickly, and taxes does not have to be high. It also doesn't cost much to run such a company. Depending on the state you are in, it can be considered a tax passthrough entity, meaning you only pay your personal taxes.

Alternatively, if you already own a company, you can create an LLC subsidiary.

[Publisher Bucks]

A simple LLC is all you need, you can set it up yourself in most states for less than $100.

Doing so will allow you to open a business bank account, get a tax number (required for the bank acct) and give you LLC protections should anything untoward happen when it comes to the 'business' side of things so that your personal assets are protected.

Once you have your business tax id, you'll be able to use that instead of your SSN for almost everything where an SSN is required.

The $100 or whatever it costs in your state and about 15 minutes of your time is money and time well spent to ensure your personally protected from legal actions and, that you are able to open a business bank account in order to keep business and personal finances seperate so nobody can pierce your corporate veil from the LLC.

[money biz]

Originally Posted by siouxblue

Hello everyone!

I am a long-time web developer and internet marketer, but totally new to the adult side of things (except as a consumer). I am new here and looking forward to contributing where I can.

I have an idea for a website that, if successful, will generate its income from affiliate links to adult subscription porn sites. If not successful, it will just be a hobby web site.

If it does generate income, I want to keep that separate from my other businesses. I don't know if it's worth going through the trouble of setting up an LLC, getting an EIN for it, registering it with my state, county, and city, etc., blah, blah, blah. I'm in the United States.

On the other hand, I'm a little uneasy about operating it as a sole proprietorship and giving my social security number and personal information, instead of an LLC's information to various affiliate programs until I see if it will be profitable.

I'm curious about what others have done and what insight you might be willing to share.

Thanks,
Sioux

You can get a cpn if you don't want to go through all the trouble... Credit privacy number.

[siouxblue]

Thanks so much everyone! This was very helpful!

I apologize for the delayed replies. Since that was my first post, and it took a while for it to be approved, I thought it had gotten lost and I needed to post it again. So, I wasn't checking back in. 🤦*♂️

~Sioux