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/biz/ - Business & Finance

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1212018 No.1212018 [Reply] [Original]

Hey /biz/, I'm an amateur game dev about to put out their first major product in the next few months after some polishing and I was looking for some advice.

There was only two people involved with the actual production of the game and we aren't expecting a HUGE volume of sales since it's our first game but we have plans for other games in the future. I guess my question is is there a certain breakpoint where becoming an LLC would be a good idea or should I not even bother with 2 people essentially making games out of a basement?

>> No.1212032

What country are you in?
How much are forecasting you'll make?

>> No.1212041

Murrica and if I had to guess 50k split 2 ways

>> No.1212080

>>1212018
figure out:

How fast can you produce games

How much money will it cost to make your games

Can you make a enough income off the company to live?

The main point of you incorporating at your stage would be for tax and investment reasons. Unless someone wants to invest money into the project, you need to take out loans, or you're pulling in a significant amount of cash with a significant number of expenses, don't bother incorporating.

>> No.1212128

>>1212018
You should do that just for tax purposes retard

What if you get sued?

>> No.1212265

>>1212018
>That .GIF
Look at the end of the stick to the right, when the dog moves forwards. It phases right through the bridge supports.

That's not just a smart doge, that's a magical doge.

>> No.1212270

>>1212128

This. If you get sued as you sit they can and probably will take both of you down. With an LLC, if he fucks up they can't touch you.

Plus as a business you can start to write shit off if you know the laws. The only real downside is the fact that you have to start doing good, proper books and such.

>> No.1212272

>>1212265
Fuck me, that dog is a wizard

>> No.1212275

ya Im not sure >>1212080 knows what hes talking about. I was under the impression you should always be operating as an LLC if possible

>> No.1212337

>>1212080
lol no

You should be operating as an LLC by default. If you want to buy a luxury car for example, just say it's for the business and boom, there's a tax deduction.

>> No.1212514

>>1212265
Dude your right holy fuck

>> No.1212634

>>1212018
>>1212265
You have been visited by Stick-Carrying Wizard Dog of Good /biz/ness.

You will be gifted with good luck in your /biz/ness endeavors for the next year, but only if you post, "good doggie, have a biscuit!" ITT within 10 seconds of reading this.

>> No.1212726

>>1212265
what the FUCK man

>> No.1213058

>>1212634
good doggie, have a biscuit!

>> No.1213087

>>1212018
Firstly, congratulations on making it through development.

Its smart to have an LLC in case there are any sudden legal issues. Although I doubt there would be much legal trouble with your first game, an LLC will help so that your personal assets won't be touched in the event you find yourself sued. LLC's aren't usually too of a cost, and the taxation for them is usually low cost too.

>>1212634
good doggie, have a biscuit!

>> No.1213101

>>1212634
good doggie, have a biscuit

>> No.1213152

>>1212018
Form an LLC right now. You can then issue shares, have board members, write off all expenses, etc. It also helps you reduce risk.

>> No.1213360

>>1212634
"good doggie, have a biscuit!"

>> No.1213375

>>1212634
Good doggie, have biscuit

>> No.1213431

>>1212018

Bruh.

Form an LLC immediately. That and a business bank account are the very first thing you do.

Both are insanely simple and can be done in a single business day.

I went to my state corporations site and formed one in an hour. I had to spend $75.

No reason not to.

>> No.1213580

>>1212634
>good doggie, have a biscuit!

>> No.1213606

>>1212634
good doggie, have a biscuit!

>> No.1213611

>>1212634
good doggie, have a biscuit!

>> No.1213625

>>1212018
good doggie, have a biscuit!

>> No.1213626

>>1212265
You all are dumb doges the stick doesn't phase through it just goes past it because the stick isn't that long and perspective

>> No.1213759

>>1212634
good doggie, have a biscuit!

>> No.1213760

>>1212018
It'd be a waste of money and time for you, since you are asking 4chan and not a lawyer, you're 99% likely to end up not knowing how to use the LLC properly and fail in limiting your persona liability anyway.

>> No.1213763

good doggie, have a biscuit!