I currently have an S - Corp. for a Home Inspection Corp I run. I am in the process of obtaining a patent for an idea unrelated to the business. I wanted to start a DBA for the Patent, so, I have the ability to pay for the process through the DBA and write off the expenses. I also will have royalties to pay a marketing company, that I thought would be easier to do from a corporate standpoint. If it is successful I do not want any possible claim made against my home inspection business to involve the finances of my patent.
Bottom line am I better off with a separate bank account for both as well as a separate corp. identity? If so, does it need to be done prior to spending money on the patent and marketing end of things or can I wait and see if it is in fact successful?
Thanks for the help,
Dan Malin
Bottom line am I better off with a separate bank account for both as well as a separate corp. identity? If so, does it need to be done prior to spending money on the patent and marketing end of things or can I wait and see if it is in fact successful?
Thanks for the help,
Dan Malin
via Small-Business-Forum.net http://www.small-business-forum.net/accounting-taxes/9698-dba-s-corp.html
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