BizFilings - Any Thoughts On It?

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BizFilings - Any Thoughts On It?

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kaylie

posts: 4

Feb 13, 2008 2:45 AM ET Quote Report Abuse

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I was considering using BizFilings because it seems like it would make the process of starting my business a little easier, and I can use all the help I can get! I have not yet decided between S Class corp or Sole Proprietorship. Has anyone used BizFilings for either of these business types? Did you like it, dislike it, think it would have been just as easy to do on your own?

I have not looked at the Sole Proprietorship packages yet, but for the S Class corp I was thinking of the "complete package." This files for an EIN, S Class election with both state and federal, preparation and filing of formation documents, as well as information on how to keep in compliance with all the regulations corporations have to follow. This is for $350-$420 plus state fees. Is this a reasonable fee? Are they a reliable company?

Thanks for any thoughts!

KevDev

posts: 96

Feb 13, 2008 1:41 PM ET Quote Report Abuse

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I`m not familiar with BizFilings, but I can`t see paying anyone to help with starting a Sole Proprietorship. In most states no paperwork is required! (You do, however, have to take care of those nasty tax forms.) I would think a quick internet search could answer this question for your state.

You might also want to touch base with a local attorney on how much they would charge to create an S Corp. I always suggest new entrepreneurs at least talk to local experts before buying services over the web.

Good luck!

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kaylie

posts: 4

Feb 14, 2008 2:17 AM ET Quote Report Abuse

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Thank you. I have contacted two local small business lawyers and they each charge around $1500 to set up an S Class corp. Unfortunately, this is a bit out of my price range at the moment. And I agree on the Sole Proprietorship, in fact it looks to be too easy - because BizFilings doesn`t even have a package for that! Thanks again for the reply.

StartupLawGuy

posts: 20

Feb 16, 2008 1:12 AM ET Quote Report Abuse

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As I`m sure you know, the problem with a sole proprietorship is that you`re putting all of your own personal assets on the line in case something happens...that is to say, you`re totally personally liable for the debts and obligations of your business.

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Clint A. Costa, Esq., CPA (Licensed in Illinois only)
SNSFE, P.C.
http://www.snsfe-law.com

TJ

posts: 1

Feb 20, 2008 1:21 PM ET Quote Report Abuse

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A company like BizFilings is a pretty good alternative to using a lawyer to file a corporation or LLC -- it costs much less and provides several advantages over doing this yourself. However, I`d still ask my CPA and lawyer for their opinion if you`re debating structures. In my case, it didn`t help much since the lawyer suggested an LLC and the CPA suggested an S-Corporation.

Namely, they do it all the time and ensure that everything is accurate. Initially, I filed my incorporation documents, EIN and S-Corp documents. Due to an error on one, I ended up refiling the others...which turned into a short-term mess. I notice that BizFilings offers "Guaranteed Filing Accuracy," which based on the experience I described would put them at the top of the list.

weidete

posts: 1

Feb 21, 2008 9:37 AM ET Quote Report Abuse

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As a consultant in Wisconsin, I too am in the process of starting my business and using BizFilings. The toughest part is deciding what type of business to be -- it depends on your needs and what resources you already have in place when setting up your business. To help me decide I used the valuable "Useful Tools" information http://www.bizfilings.com/products/incorporate.asp As an added bonus, by signing up with BizFilings I will receive a Business Owner`s Toolkit with 100s of practical tips, examples, checklists, and business documents ... I`d say that`s not a bad deal for my $400 investment.

As far as using BizFilings, I cannot say at this point about their service, however check out the testimonials and try contacting those business owners for a first-hand experience of using their services and asking about their reliability. From a financial perspective the $400 price tag seems appropriate if filing effectively and efficiently isn`t something you want to worry about. By the way, my attorney charges $275 an hour; my accountant charges $95 an hour so I think the price for BizFilings actually will save me money, especially since BizFilings the work is guaranteed! Plus based on the information available on the web site, (BizFilings is a subsidiary of CCH , a provider of information services, software and workflow tools for tax, accounting, legal and business professionals which is a subsidiary of Wolters Kluwer, a global health, tax, accounting, corporate services, financial services, legal and regulatory conglomerate.) their niche market of entrepreneurial business owners and the information already available -- I`d say they are pretty reliable ...

jprichardson

posts: 11

Feb 28, 2008 3:21 PM ET Quote Report Abuse

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I used BizFilings for my LLC and I liked their service very much. One thing that bothered me was that there was an additional state fee due to the Secretary of State`s office within 30 days of incorporation. The fee was for initial list of officers. Now granted, it may have been stated somewhere that this fee was due after filing, but I don`t recall seeing anything.

But, If I were to judge my overall experience, I would say it was positive and that I would definitely use them again.

-JP

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BizFilings - Any Thoughts On It?

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