Dba question

As a guy who's been involved with thousands of entitles, I would say the issue of whether or not to have an LLC, or any entity, is not about how much you make, but how much you have that you want to protect. In the trucking business, it's real easy to have an incident that exceeds your insurance coverage. As a DBA, everything you own is on the line.

So, if you have something of value to protect, such as equity in your business, house, etc. I'd seriously consider an entity, and I very much prefer LLC's. On the other hand, like the song says, if you ain't got nutin, you ain't got nutin to lose.

As far as your question, with a DBA you can do your banking however you want, because it's all you. Just be sure you can keep track of it.

Best,

 

Jerry C has it right. It has nothing to do with how much money you are making. Set up the LLC right away to protect yourself and your assets from any liabilities that may come up. And yes, keep the money separate.

 

I'd suggest you spend an hour with an attorney who specializes in corporate filings and is knowledgeable about trucking... you may get some different answers. Just sayin..

 

You would really trust your future and liabilities to advice from a online board. Just remember that all the advice here is worth just exactly what you pay for it.

By the way a limited partnership does not protect you as the only real partner from much, Go see a CPA and a attourney that specialize in the transportation industry.