this post was submitted on 27 May 2024
850 points (97.4% liked)
Technology
59296 readers
4482 users here now
This is a most excellent place for technology news and articles.
Our Rules
- Follow the lemmy.world rules.
- Only tech related content.
- Be excellent to each another!
- Mod approved content bots can post up to 10 articles per day.
- Threads asking for personal tech support may be deleted.
- Politics threads may be removed.
- No memes allowed as posts, OK to post as comments.
- Only approved bots from the list below, to ask if your bot can be added please contact us.
- Check for duplicates before posting, duplicates may be removed
Approved Bots
founded 1 year ago
MODERATORS
you are viewing a single comment's thread
view the rest of the comments
view the rest of the comments
I kind of want one anyway. Is there a real reason I shouldn't do this?
Completely depends on your country
Tldr: Don't do this unless you have a business that requires a steam account for tax purposes. It doesn't need to be successful but it does need to be real.
Trusts are probably a better option for this sort of thing than a LLC.
Just do benchmark videos on youtube or something. Then rake in the sweet, sweet business losses.
Personal use of business assets is generally frowned upon by the IRS.
That's why I'll only play during work hours.
As others have pointed out - costs a few bucks annually,and requires beneficial ownership report (free IIRC).
Otherwise, it’s a tried and true tactic to pass businesses down through generations. An LLC vs. a corp vs a trust is a convo to have w/ lawyer barred in your state but the general premise is vaguely sane.
You normally pay an annual fee to keep your LLC registered.
There's at least 10 states with no annual fee. Arizona is $50 to file, $0 annual fees, and no annual report to file.
If you'd prefer your company to have voting rights, you can file in Rhode Island, and your company can vote in local and state elections without ever stepping foot in the state. Hooray late stage capitalism 😞
There's a good chance the original commenter is not from the US
Also I think you are required to submit yearly financial reports.
Not in Arizona. You don't even have to live there, just have to file there.
Disclaimer this was a joke I'm not a lawyer and I have no idea if this would actually work... 😆
Would be hilarious if it actually does and everyone starts doing it…
"Your honor, 'bonerdragon6969420 llc' has a long and industrious history..."
I am now curious how and if Steam bothers to deal with business licensing? If they do, it's probably way pricier than what you're normally paying.