LLC, S-Corp, LegalZoom, CPA, Lawyer -- What's The Best Way?

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invisible777

invisible777

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Looking to incorporate... don't know much about it yet aside from the research I'm just starting to do.

For those who have LLC's or corporations of some sort: In your past experiences, what route have you taken to incorporate? LegalZoom/BizFilings seems like it could be pretty straightforward, but at the same time as someone who doens't have either a business lawyer or CPA I was thinking it may be good to start a relationship with one especially for next tax season.

If I go the CPA or lawyer route, what kind of fee's are we talking about here (from your past experiences).

Any recommendations? I'm in the Hartford, CT area, feel free to PM.
 


For some states getting an S-corp is a waste of time because you can't declare dividends and not pay SE tax on that. If your state is one of those, just get an LLC. You can also get an LLC and tax it as an s-corp in most states.
 
engaged said:
For some states getting an S-corp is a waste of time because you can't declare dividends and not pay SE tax on that. If your state is one of those, just get an LLC. You can also get an LLC and tax it as an s-corp in most states.
Click to expand...

So some states allow an LLC to not pay the 15.3% self-employment tax?
 
invisible777 said:
So some states allow an LLC to not pay the 15.3% self-employment tax?
Click to expand...

No. Some states do not allow you to do an s-corp and not pay SE on the "dividends", they make you pay the SE no matter what, so there is no point of getting an s-corp ever an easier to manage LLC.

Also, most states allow you to tax an LLC as an s-corp.

¿comprende?
 
i just set up an s corp, it was pretty expensive. $750 and the guy said he was giving me a really good deal. Also i think it costs $800 per year to keep it.
But it will save you way more than that when it comes to tax time.
 
gdubs12345 said:
i just set up an s corp, it was pretty expensive. $750 and the guy said he was giving me a really good deal. Also i think it costs $800 per year to keep it.
But it will save you way more than that when it comes to tax time.
Click to expand...

you wouldn't happen to have a website that displays yearly dues and fee's for s-corps, llc's?
 
This is pretty much where I'm at, is trying to determine what is the best type of business structure for me to set up, and who to do it with/how to go about doing it. The best advice I was given, was just talk to people and see if anyone you know is an accountant, or ask around if anyone you know owns their own business, or know someone who does, and ask them who they use, and if they are happy with them. Turns out someone I knew, but didn't know what they used to do, was a cpa, and she gave me some good advice, and a recommendation to someone her daughter works with (also a cpa).

Thanks for the video, ImagesAndWords, I'll be checking that out. My plan was to give the guy that was recommended to me a call and talk with him, but that may change after watching the video?

I remember there was someone on here that posted about having a cpa that was very familiar with affiliate marketing/internet marketing, and that certainly sounds like a good thing, someone that *knows* what it is that you do.
 
I used thedelawarecompany.com, $300 and I had everything in my hands the next day.
 
https://www.aragdirect.com/

Might be useful.

I'll second doing it yourself, LegalZoom and like services are just charging you for filling out the papers. If you're a bit lazy you may as well use them though.

Be really really careful about the yearly fees though, due to a change of address I didn't file my $25 yearly update to the secretary of state and got a fucking $250 fine, ouch.
 
If you have any friends that are lawyers, particularly corporate law, then definitely get them to hold your hand through the process.
The incorporation forms are designed for you to fuck them up the first time around and waste your lodgment fees...

Option 2 is to just buy an off-the-shelf corporation (as in, someone's already registered it, done the forms, etc, and is now charging a premium to shift the ownership to you and your "board") and then just pay the renaming fees.
 
gdubs12345 said:
i just set up an s corp, it was pretty expensive. $750 and the guy said he was giving me a really good deal. Also i think it costs $800 per year to keep it.
But it will save you way more than that when it comes to tax time.
Click to expand...


thats not a good deal at all :anon.sml:
 
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