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IBM 20 | Interview with Business Attorney Darius Barazandeh on Starting Your Internet Business LLC

15 Nov 2006 Sterling and Jay 9 Comments

Click here to download this episode.

In this episode we sit down with Darius Barazandeh who is a business attorney, internet entrepreneur and real estate investor. We pick Darius’ brain to find out how you can protect your assets and get the best tax advantages with your business entity.

Darius reveals tips such as:

  • How to avoid wasting money on lawyer’s fees
  • How soon an internet business should form an LLC
  • The areas of liability risk that an internet entrepreneur needs to be aware of
  • How to avoid business liability from affecting your personal assets
  • The dangers of partnerships and how to avoid them
  • When an LLC makes sense over other available business entities
  • Why just registering an LLC is not enough to create/preserve liability protection

If you want to get your hands on all of Darius’ tips for starting your own LLC, all the documentation you need to start your own business entity and free email consulting with Darius himself, click here.

Jay also gives an Internet business quick tip on how your web site URL can make or break your search engine marketing results.

This post is in: Internet Business Law, Podcast

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9 Comments Leave a Comment


Great show. Really enjoyed listening to Darius. I understand that an LLC isn’t always an obvious choice in New York State. Apparently some of the tax savings aren’t as clear as in some states, especially for those of living in NYC. It would be interesting to get his take on that.

Also, on the Internet quick tip… If you register a domain name with hyphens and have that redirect to your site (as opposed to the other way around like you guys did), can you realize some of the same SEO?


Jason,

If you do things the other way around with the hyphenated URL, it’s not nearly a effective. To get the increased ranking effect, the hyphenated URL needs to be associated with the site where the content resides because this is what will be listed in the search engines.

As for the issues of LLCs in NYC, I am not sure. I’ll let you know if I get a chance to ask Darius about it. Naturally if would be good for me to know since I live in NYC.

Jay
aka: Jason Van Orden


Hey guys,
Just wanted to let you know that I have been subscribed since the summer and appreciate what you are doing. would like to offer a suggestion.

I think it would be very helpful if you were able to offer a specific “case study” on how to apply the techniques that you discuss. Because you guys want to protect your niches you speak in general terms about what you are doing week in and week out. It would be helpful to hear actual numbers and strategies that you are using as time goes by.

What if you were to fully document the research, creation, and implementation of an info product from start to finish to show us listeners specifically how things are done.

It could be done on a delayed basis so that no one could interfere or copy the project as it is going along.

I just think it would be very useful to say “this is what we did and this is what happened” and “this is how we are going to respond”. By walking us through a real case from start to finish you would put the concepts into clearer perspective. Just an idea.

Thanks again,

Dave


DaveR,

Thanks for the input. I think having more real examples and case studies is a great idea and would be very helpful and interesting for the audience. We’ve discussed ways to do that and have a couple ideas. You asked for it and we’ll do our best to bring it to you.

Thanks for listening!

Jay
aka: Jason Van Orden


Hi Jay,

Thanks for the reply. My accountant recently told me that my revenues weren’t significant to justify an LLC, at least from a tax savings perspective. I live in Brooklyn. FYI, my revenues are projected at 100-110K for fiscal 2006, my first full year in operation. Right now I’m a DBA (Swiss Watch Boutique), with NYS Sales ID, business certificate, bank account, etc., and am not particularly concerned about liability issues associated with selling watches. But I am seriously thinking of LLC for credibility and tax saving purposes and appreciate this discussion and look forward to your next show.


My accountant recently told me that my revenues weren’t significant to justify an LLC, at least from a tax savings perspective. I live in Brooklyn. FYI, my revenues are projected at 100-110K for fiscal 2006, my first full year in operation. Right now I’m a DBA (Swiss Watch Boutique), with NYS Sales ID, business certificate, bank account, etc., and am not particularly concerned about liability issues associated with selling watches


kumar,

The decision to start an LLC is certainly a personal choice that should be made in light of your business situation. Some would say that just having an LLC offers tax advantage because, if you ever got audited, it would be easier to justify things to the IRS if you have taken the step of starting a business entity.

Some industries do come with more liability potential than others. It’s all about placing as many (or as little) protections in place as your resources allow and your goals dictate.


Guys,

I Just wanted to drop you a line and let you know I have enjoyed your podcasts since finding you on iTunes. I am a budding internet marketing after 15 years of sales and marketing in the 3D world and I have just watched your tutorial on freemind and LOVE it! I am always doing the pencil and paper thing through those types of sessions and thought the program was a great idea.

I got an idea after watching your tutorial however. I have put my entire business into a freemind listing. All of my sites (29) all of my vendors, all of the blogs (including yours! :) all of my reports (Google, Kontera, etc) onto a mindmap with links setup to launch them all. Now I don’t have to mess around with bookmarks of favorites, I can launch everything right from freemind! Thanks for the suggestion and keep up the good work!


Hey Darren,

That is a great way to use a mindmap. I also set up my procedure lists in the same way, with links to files and websites I use during a specific procedures, that way everything I need to complete a task I do on a regular basis is all in the same place. At some point Jay and I are going to start talking about Macros and desktop automation, that way you can type one word and a macro will do all the work for you!
When you decide to upgrade to Mindjet, you can add alerts that will come up on your desktop! I use the alerts for all sorts of things including paying bills that might slip through my memory cracks!

Sterling.

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