i am a fine artist in philadelphia. I have started a business called lotus root art gallery. as a fine artist could i have it as natalierzuc...

Question

i am a fine artist in philadelphia. I have started a business called lotus root art gallery. as a fine artist could i have it as natalierzucidloLLC and then dba lotusroot art gallery. could i file my taxes for my work sold under my lllc and file as well for the business? or do i just file taxes for my own work under my social security and create the gallery as an llc

Answer

Hi there,

For your taxes: It really wouldn't matter much either way in terms of income tax - if you are a single member LLC the business entity is disregarded for tax purposes. However, if you don't associate it with your business you would not be able to claim the deductions for associated business expenses.

As far as your DBA: You certainly could register a fictitious name for your LLC, and it would be treated the same as the LLC itself.

If you would like to discuss your matter further over a free and confidential phone consult, please contact me at your convenience.

Regards,

Michael J. Duffy

Duffy Law, LLC

1-888-414-5773

www.mduffylaw.com

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Please note: The information provided here is for general informational purposes only and should not be construed as legal advice or legal opinion on specific facts or circumstances.