My goal this year is to leave my current job and work entirely from home. I'm trying to figure out how I'll need to set everything up before I begin so I know I've got all my ducks in a row. I plan to have two separate income streams. One, I'll be doing freelance virtual assistant / social media management work. Two, I'll be working towards creating revenue through twitch streaming and other modes of content creation. These two will be under separate DBAs.
As I said I want to plan as best as I can for this. In the future, I'd like to make streaming/content creation my main work. If that happens I'd be good to be able to sell merch/hire help. I know that is a far-off thing but If I can prep for it now I would love to do so. I may even dabble in selling on Etsy (altho this is not planned for atm).
So my question is: do I need a business license, along with a DBA? Do I need a license for both DBAs? If I do need to file, what does that mean for me after filing? Will taxes be filed differently? Will there be upkeep involved? I've watched lots of videos on taxes for freelancers and streamers and none of them mentioned having to get a license. And I don't know how or who to ask about this. This one part confuses me.
