Any of you guys know of INCORPORATING?

16 years ago

Use of a website service adds additional but unnecessary costs. Many states allow you to form an LLC directly on the Secretary of State's website. If you are forming a simple LLC, this may be the way to go and bypass the extra fees. If you are forming an entity that is more complex, you should consult an attorney anyway, and do not need a website's services.

Good luck,
John K.

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Dustin_M

16 years ago

Originally Posted by John-K.

Use of a website service adds additional but unnecessary costs. Many states allow you to form an LLC directly on the Secretary of State's website. If you are forming a simple LLC, this may be the way to go and bypass the extra fees. If you are forming an entity that is more complex, you should consult an attorney anyway, and do not need a website's services.

Good luck,
John K.

Well said John. A simple LLC can be completed on most state filing office's website. The fee should be around $100 - $150 (except for California which is about $800). The main reason to be structured as an LLC is for the personal liability protection it provides. Make sure you follow the requirements of your state or the protection can be thrown away by a jury (called piercing the corporate veil).

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John-K.

16 years ago

Originally Posted by Experimental

Well said John. A simple LLC can be completed on most state filing office's website. The fee should be around $100 - $150 (except for California which is about $800). The main reason to be structured as an LLC is for the personal liability protection it provides. Make sure you follow the requirements of your state or the protection can be thrown away by a jury (called piercing the corporate veil).

Agreed. The personal liability protection is what makes the LLC worth it even for small ventures. It is important to keep a separate bank account in the company's name for business though in order to protect the business's status as a separate entity.

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Scott Burton

16 years ago

Personally, I have incorporated many businesses in my home state. As John-K mentioned, the online service providers add an extra expense which is unnecessary.

Just because you're doing business online, doesn't mean you have to incorporate online. Contact your local Secretary of State's office for more information.

If you're outside of the USA, then you're out of my area of experience at present, and sadly I can offer no real assistance.

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Chaiwriter

16 years ago

I'll throw LegalZoom at you, but I do agree that seeing an attorney is the best way to go.

Chai

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BJ Min

16 years ago

do you guys incorporate all your websites into ONE corporation?

OR do you make MULTIPLE corporations for each of your niches?

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John-K. 16 years ago

I have one LLC, which I am doing all of my online business under. I filed online with the Illinois Secretary of State's Office.

John K.
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Lindsay Brynn

16 years ago

thanks for this thread. i was wondering about this. I've been meaning to register an LLC for awhile but haven't yet because it seems complicated. Especially figuring out taxes and everything... but i'm sure it isn't as complicated as i'm making it.

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John-K.

16 years ago

Originally Posted by linm

thanks for this thread. i was wondering about this. I've been meaning to register an LLC for awhile but haven't yet because it seems complicated. Especially figuring out taxes and everything... but i'm sure it isn't as complicated as i'm making it.

LLC taxes are easy since taxes on the income minus the losses are calculated on your personal tax return. Do a google search for LLC pass through taxation and you'll see how simple it can be

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Jesus Perez

16 years ago

I researched this like crazy a year ago. I eventually learned that LLC was the way to go for me. S-Corps are cool, but with LLC's there are no "minutes" or other stuff at the end of the year which saved extra drama and money.

I also learned that (for me) it makes no sense from a tax-savings perspective to get LLC or S-Corp until I've passed the $250k/yr mark. Until then, it'll probably be easier to claim it on your personal tax statement. Just keep everything well separated.

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J. Barry Mandel

16 years ago

BlueSquares, your accountant figured this out for you?

Originally Posted by BlueSquares

I also learned that (for me) it makes no sense from a tax-savings perspective to get LLC or S-Corp until I've passed the $250k/yr mark. Until then, it'll probably be easier to claim it on your personal tax statement. Just keep everything well separated.

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Doug Simons

16 years ago

I don't know about all that but I do know the most simplest type is a s corp that is what my offline company of 23 years is now

doug

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BJ Min

16 years ago

BlueSquares,

you say it makes no sense to get a LLC if you make less than $250,000 a year?

What if you make less than $100,000...is it better to get LLC?