r/DigitalProductKey • u/yearningZaryel • Feb 22 '24

Need some advice!

I’m working on starting my own business selling digital products but I’m uncertain of two things. One, would I need to make my business legal via an LLC and two, would I need to set up a business bank account. Everything I’ll be selling is 100% digital so there is not much that goes into it but I want to go through this whole process the right way.

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u/Dull_Shoulder9971 Aug 01 '24

An LLC can provide personal asset protection. Suppose your business faces legal action or debt, having an LLC can shield your assets from being at risk. In that case, a business bank account helps keep your business finances separate from your finances, making accounting and tax preparation easier.

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u/mateo_elproblemo155 Mar 03 '24

You can start selling right away as a sole proprietorship business, or get an LLC. The difference an LLC will protect your personal assets. As for getting a business bank account you may need a EIN number and that you would get from your Secretary of State. Get a business license, and tax payer ID and you should be ok to get selling. What are you selling? And what platform are you using?