Terry Masters

Using the wrong name on a business not contract can cause confusion and even shift liability to other parties, so you need to get it right.

Any company with an assumed name, also known as a DBA, must file taxes every year in a manner that depends on the way the business is structured. This varies for sole proprietorships, partnerships and LLCs, and corporations.

Running a sole proprietorship puts you in the driver's seat, since you have total ownership of your business. However, you also have unlimited liability.