I don't want to register the company because I won't make enough money to pay the taxes anyway. I just want to do something seasonal and make a little money, and I don't want check made out to my real name for security reasons. If I have the customers make out the check to the company name that I have chosen, will I be able to cash the checks/money orders? Thanks for your help.
2006-08-30 13:44:51 · 5 answers · asked by Anonymous in Business & Finance ➔ Other - Business & Finance
Hi, I should clarify that I wanted to know if I could endorse the checks with the company name and put my name underneath.
2006-08-30 14:04:34 · update #1
I have done many businesses and If you are doing it out of your home have all the checks written out in your name. I know that this is weird but if you have a special name for this business, then you will have to registart the business and all that fun stuff. I hope that this makes sence to you.
2006-08-30 14:51:30 · answer #1 · answered by laurabellavon 1 · 0⤊ 0⤋
To open an account in the name of a business you need various id numbers, so would probably have to register it. Check with your bank on whether they'd let you deposit the checks to your personal account.
I'm not sure what you're saying about taxes. Registering a company doesn't mean you have to have a corporation and a corporate tax return. You can just show the income and expenses on your personal return on a Schedule C for most small businesses.
What kind of security reasons stop you from wanting the checks made out to you?
2006-08-30 20:55:10 · answer #2 · answered by Judy 7 · 0⤊ 0⤋
You need to register a DBA - doing business as. Where I live you do that at the county offices. Cost is minimal. That way you can be unincorporated and do business under a company name and not your personal name.
2006-08-30 20:51:23 · answer #3 · answered by Miguel 3 · 0⤊ 0⤋
You can certainly deposit them via an ATM to your bank account without a problem. The bank will just assume it's a 3rd party check signed over to you. You would just have to sign the back of the check prior to depositing it.
2006-08-30 20:51:42 · answer #4 · answered by UN_POQUITO 3 · 0⤊ 0⤋
you will need to file a dba (doing business as) form and open a bank account in the name of your business in order to cash the checks.
2006-08-30 20:52:53 · answer #5 · answered by fat_albert_999 5 · 0⤊ 0⤋