Liability of DBA

Asked by: joe - 24 July, 2012

https://d25eic0jctudgb.cloudfront.net/images/site/avatars/default.png-f1597c1da25f30f8c1a941405e8391c8

If I open a DBA in my parents home and use a room in their house can someone try to go after the house even though I do not own the house but my business office is in the house. I live in Yonkers, NY

Answered by: Robert Kowalski - 24 July, 2012

https://d25eic0jctudgb.cloudfront.net/images/site/avatars/35.jpg-687fc92d5f6c5febcbdccb6895b08b8c

Joe,

Technically, if you run your business as a sole proprietor then you would be liable for this business with your personal assets. If the house does not belong to you then, logically, it is beyond reach.

With that being said, since this question is legal in nature I would strongly recommend you to consult a NY-licensed attorney, since what seems logical does not always mean that the law sees it the same way.

Comments:

Ask Incorporation Question:

Payroll Processing

Get the simple, powerful payroll you deserve.

Our firm recommends ADP because our clients get access to simple payroll and HR solutions that fit their business needs, backed by 24/7 expert support.

If interested, please click on the logo above and get in contact with the leading company in payroll processing.

Payroll Processing Solution

Web Hosting Services

Get a Host that you can trust.

We recommend our clients to InMotion Hosting because they are an award-winning, reliable, and experienced Web Hosting Service provider.

Click on the logo above to receive access to discounts (up to 50%) for hosting services such as Business Hosting, VPS Hosting, Dedicated Servers, Reseller Hosting, and WordPress Hosting.

Web Hosting Service Solutions

Disclaimer:

This answer has been written for educational purposes only and was not meant to be legal advice and should not be construed as legal advice or be relied upon. The post may contain errors, inaccuracies and/or omissions. You should always consult an attorney admitted to practice in your jurisdiction for specific advice. This post may be deemed as Attorney Advertising. MyUSACorporation.com do not assume any responsibility for harm or damage resulting from the use of this information in any way. For more information please see our Terms of Service.

Please note that according to IRS Circular 230 to ensure compliance with requirements imposed by the IRS, we inform you that any tax advice contained in this writing was not intended or written to be used, and cannot be used, for the purpose of (i) avoiding tax-related penalties under the Internal Revenue Code or (ii) promoting, marketing or recommending to another party any matters addressed herein.

Liability of DBA

Comments:

We Want To Connect With You!

Need help?

Thanks for visiting!