US Citizen starting new Online Business, What is the Best Setup?

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catpurley
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Joined: Dec 2 2010
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US Citizen starting new Online Business, What is the Best Setup?

Hi guys,

I am a US citizen based out of New York. I am married and have 1 child.

I primarily do internet marketing and sell virtual products that I own as well as act as an affiliate and sell other people's products for a commission. I work alone and have no partners.

For the last 3 years I have just done everything in my own name. I know that is a terrible idea, but when I started I did not expect to be doing much volume so I didn't think it was a big deal. Now I want to set things up properly so that I have some protection and keep as much money as I am legally able to.

So this January I am starting fresh and going to structure things the right way. There are so many options out there that I am unsure of where to start.

How might you think I should structure this business?

I will be making sales primarily to US citizens but also all the other English speaking countries.

About 25 % of my business will be virtual informational products that I can deliver from anywhere and 75% of my earnings will be paid to me by other companies that I work as an affiliate for.

I am looking for protection against lawsuits and privacy. I also want to keep my taxes as low as possible.

I do not have a ton of money to set up the structure but I do have about $1000 in the budget give or take a few hundred bucks.

For those of you that are experts in setting up businesses what do you think would be the best way to structure a business like this?

Thanks for anyone that has any ideas. Even if you have something that can be used as a starting point, that would be great as well....

 

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