Posted by Jahari Davis on 3/27/06 1:16am
Msg #108733

Business names

Hey all, I've seen people post with Business names here. HAve you actually gone through the motions to get a business license and filing DBA papers or did you just decide on a name for a business and run with it. I've been considering whether to do that or not. Anyone in Michigan that has a business name for their notary business? I'm considering such a thing and need advice. Any advice. Thanks.

Reply by ReneeK_MI on 3/27/06 4:05am
Msg #108735

You need a DBA in order to obtain a business banking account, which makes tracking and organizing your finances much easier, which in turn makes filing tax returns much easier. Additionally, you'll find it's highly recommended to obtain an FEIN (Fed Emp. Id Number). You can obtain those on-line in about 15 seconds. This also serves to afford some identity-theft protection, since you then never provide your SS# to anyone, just the FEIN. As for the license, you'd probably be wise to check with your local municipalities to see what they might require.

I just used my name on my DBA - "Renee A. Kovacs NSA Services" is what I used, as I have NO intentions of ever having employees, and my thinking was that my name was what I wanted 'out there'. I'd love to hear some pros and cons on that from everyone else, though.

Reply by Jahari Davis on 3/27/06 4:43am
Msg #108736

So if you are going to use a business name, you should go through all the necessary steps and file a DBA, get an EIN, and a business account and run with it. Makes sense. I have no intention of having employees, at least not yet anyway and there's nothing but an upside from what I can tell. Thanks for the advice.

Reply by LauraV on 3/27/06 7:47am
Msg #108745

Get a business name you can use as a domain name

Get a business name you can use as a domain name and have the word "notary" be part of it. Make the name very easy to spell. These things will help your website's google ranking.

Don't get a cute name, like Notary4You. Get a simple name that is easy to remember, like Michigan Notary. Let people know you take your work with their important documents very seriously.

I don't know how many business licenses are required in Michigan. Where I live, I just need state and city licenses. When I worked in California, I needed, state, county, and city. Do not work without proper licensing. I have seen people fined heavily for doing business without a license.

One woman I know is currently begging the city of San Diego for leniency on a $600 fine plus 4 years of back licensing fees. She was caught because she declared businsess income and expenses on her federal tax forms. That's how San Diego knew she was running a business. Government agencies talk to each other.

Adding a dba to your license is usually easy and usually added to the state license. When you go to the office to get the dba, have a few names in mind in case someone else in your state is already using your first choice.

If you just pick a business name and "run with it" you could be setting yourself up for some real trouble. If someone else in your state started using that same name before you, they could file a suit against you. I wouldn't hesitate to sue someone using my business name in my state. I have worked hard to build my reputation and spent money to advertise my business name.

Reply by Danny_FL on 3/27/06 8:20am
Msg #108751

Re: Get a business name you can use as a domain name

I have found it much easier to go with the DBA and EIC. Keeping things separate is really important in tracking income and expenses for me. Do a statewide seach when you set up your ficticious name first to see if its in use.

Danny

Reply by lulu on 3/27/06 1:06pm
Msg #108840

Re: Get a business name you can use as a domain name

You should be able to get the forms online from your state secretary of state to register a name. You can search under corporate database to see if anyone is using the name you want to use, if not register the name.
Another word of advice, you may want to consider setting up an LLC (Limited Liability Company). This will minimize the personal liability if anyone were to sue you. I went to Staples and bought a CD telling how to set up an LLC.