March 1, 2021
Q.: My current business is in transportation services and I would like to also offer consulting services. But with the current business name having the word “transportation” in it, clients might not identify the new consulting services. Is a new employer tax ID needed to start a new branch of my current business with a new name? A.: Generally, a new employer tax ID is only needed when you form a separate entity—not when you add a line of services to an already-existing entity. To avoid customer confusion and to give your consulting services their own name, you may want to file a DBA for the company with your state’s Secretary of State. However, whenever you have more than one line of business “housed” in the same entity, you run the risk that financial misfortunes to one line can affect the whole. Speak to your accountant about how best to account for the different services so that you can evaluate the profitability of each. What other law questions do you have about company…
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I know first-hand that running a knowledge-based service business has unique challenges. It’s so much easier when you have an advocate in your corner. Over the past 25 years, I’ve worked with thousands of New York business professionals who want a legal advisor to guide and support them as they navigate the business world.
With wide-ranging experience as a business attorney, strategist, and media authority, I bring the added power of a business lens to the legal issues my clients are facing.
And because I’ve been a business owner myself, I’ve lived through the soaring highs and devastating lows – like when my first law firm failed. So I understand what’s involved to serve great clients, detect business risks early and build a true legacy.
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