Vice President Kamala Harris will propose a tax deduction of up to $50,000 for new small businesses on Wednesday, a tenfold increase over existing relief and her latest economic policy aimed at winning over middle-class Americans after jumping into the presidential race over a month ago.
You just use the same phone numbers and accounts and stuff. There’s been standard ways to redirect people to new names for at least centuries.
It costs a couple hundred bucks to start a new llc in most states. People just use their old articles of incorporation and change the names (I know one who just crossed the old ones out with a pen and wrote the new ones in over the top).
Permitting almost always has exceptions for existing operations.
When you close a business on paper you don’t suddenly lose access to services in the name of that business.
If you can figure out a good reason to (any reason counts, restructuring, etc) you can have the same dba filing for your new company, not change anything externally and be fine.
What you’re not considering is that all of the above things might amount to five grand if you live in a particularly restrictive state, but that’s still 45k in tax breaks a year and if there was some reason to restructure internally now you’re getting paid for it.
Yes you do. Your bank account is in the old business’s name, and any lines of credit you have will be in that business’s name as well. Doing anything for a new business is harder than for an established one. Once you explain “oh yeah I did own that one, I just changed the name for tax purposes” you sound like a scammer.
Banks and suppliers (good ones) are not going to waste their time figuring out your scheme. They will just drop you.