Should You Create a Second LLC or Use a DBA?

In this video, you get answers to these questions:

0:00 - Introduction
1:41 - What is a DBA?
2:25 - What are the benefits of a second LLC?
3:31 - What are the disadvantages of a second LLC?
4:10 - What are the alternatives to creating a second LLC?
6:13 - When can one LLC be liable for the other?
7:17 - How can I learn more about this topic?
7:34 - Can I use the same EIN for both LLCs?
8:36 - Overview
9:24 - What are the next steps I should take with my attorney?
11:01 - Outro

QUESTIONS? Do you have questions about this topic or anything else? Ask in the comments below.

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[ryantunison]

Hard to believe this guys an attorney, he explains things clearly, without ego and understands why people may want to do stuff even if it’s not the best way. Great Listen!

[thatkansasgirl]

Best description I've found - thank you for being clear and covering all the details. For some reason this stuff is hard to wrap my head around!

[MadMarche]

Thank you for succinctly clarifying this in laymen's terms. I'm in this exact situation, and I feel that after watching this, I'm going to just simply set up another LLC.

[waltergcuriel]

Super clear explanation, it answered 4 questions I had when I was looking for only one. Thank you very much 👍🙂

[bajolapupaenrd]

Hi I highly appreciate the explanation LLC VS DBA just today before watching this video I opened a second LLC for another venture. After listening to you I am more cleared about my decision. And of course I subscribed and invite others to support this helpful channel

[AcuityEcommerce]

Thank you! Too many businesses need easily digestible legal tips and advice. Looking forward to seeing more content like this from your channel!

[jeaniceanderson]

Thank you! Your video broke it down to where I can understand. I am starting a new journey with becoming a small business owner, and I am feeling a bit overwhelmed at the moment.

[virgobee]

Really great information and explanation. I will be setting up another LLC now. 👍

[thexaviersteven]

This was a great video. Thanks for all the insightful information. One question i was hoping would get answered is, if you set up a DBA for your existing business, should that DBA have its own EIN number, business bank accounts, accounting and other items like the initial entity?

[ettazay]

Thank you for talking about serial LLCs! I'm in Texas where this is allowed. 👍

[DanielGloverTheGreat]

Thanks man! You really helped me understand how I want to manage my ideas. Since my business ideas spread across vastly different genres of business, I'll configure multiple legal entities when the time comes. One duck at a time, for now!

[beautyland]

❤❤❤ whaoo this lawyer breakdown like he explains to a first grader… he makes so simple to understand…. The English is so clear to understand… so far I love his Minesotta accent….

[allans]

Looking all over the Internet for this discussion thank you for articulating so brilliantly
I’m here in California I have a mortgage company under an S Corp. and want to start an unrelated business I think is the way to go with dba w extra insurance. As you mentioned each corporation has expenses and it’s nice to put it under one umbrella

[edwardcormier]

This was the best broken down explanation i have ever watched!!

[EE-blzr]

As a performing artist, considering what to set up, I want minimal paperwork and overhead. I was thinking of doing a sole proprietorship with DBA instead of an LLC, because what is somebody going to sue me for playing a bad song? 😂

[Freedom]

This is the most helpful video I’ve seen on having two LLC businesses and if I need two EINs. Very confusing for someone who hasn’t done it before. Thanks again!

[paladinhill]

Just watched this for a second time. Immensely helpful. Thanks!!

[-MikaylaEdwards]

This was very informative and easy to understand; thank you!

[itsLaHarmony]

VERY VERY helpful with the DBA info...Thank you.

[brandonstout]

Very helpful. Thank you for being so organized with the time bullet points. However, I listened to everything and I found all that you said very relevant and valuable. Thanks again!