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Yes, you can create a business that requires no customers. Many people do this to enable them the ability to conduct B2B transactions as it is much easier to d
by techjuice 9y ago
Yes, you can create a business that requires no customers. Many people do this to enable them the ability to conduct B2B transactions as it is much easier to do so (e.g. buying several homes, automobiles, buildings, cities, yachts, other businesses, land, property, for financing, legal groups, owner of a single website or network of sites, software, etc.).
- whoisjohnkid 9y agoAwesome! Yeah I’m thinking there will be more tax benefits if I traded via the business than personally.
- Erlangolem 9y agoYou might want to consider talking to a lawyer, if only for just an hour, to hammer out the specific details.
- techjuice 9y agoTalking to a lawyer is a great idea, along with talking with an accountant too. You have way more tax advantages being a business versus individuals. If you need help it will be easier to hire someone if you already have an operational business up and running to help management of your business operations and administrative duties. Though if your business plan starts to pan out it might be hard to not have customers even if it is a small amount.
- WhiteOwlLion 9y agoTracking expenses may or may not be worth the time. You need to exceed what your standard deductions are as an individual just to "break even". Now, was all that tracking of expenses worth the time to save a few dollars, along with paying business license fees & taxes? If yes, then keep working it.
- Nomentatus 9y agoNot usually. Wholly owned proprietorships are treated just as the individual would be for tax (not liability) purposes I believe. NOT a lawyer.
- cimmanom 9y agoAlso not a lawyer, but: in the US you can create an LLC that is treated as a pass-through entity for tax purposes, but not other corporate structures (B-corp, C-corp, S-corp, LLP).