Forums: Discussions for entrepreneurs and small business.

So I`m finally getting all my ducks in a row. I going to incorporate. But I`m stuck on how to do so. I sat down with a Tax Attorney and a CPA. Actually the CPA and a family member recommended/refered the Attorney. But here is the dilemma. Attorney Costs: $1200 Legal Zoom.com (and silmilar sites)395+state fees.

The Attorney guy has me sold. Plus I can put a hand on him if I have questions. But I would much rather clip the price tag and get just what I need.

I`m torn. Any advice?

Hi,

Take this as just a comment ‘another brick in the wall’ of information you’ll gather before you make your decision. IMO you should stick with the bare bones service. Here’s why, once the company has been incorporated, you have your numbers and have yourself designated as the person to whom the State will issue the yearly dues for your company, you will likely not need any further services from that attorney/company. Any future legal issues should be handled by the attorney of your choice, someone you trust. But incorporating is a fairly straight forward procedure, I think you’d have to get a real dork to mess it up.

Elí

AODesigns,
Congratulations, Its been awhile since we`ve talked. If I where you I would ditch the Attorney. You are willing to pay 1200 to an attorney but are hesitating to pay the $395.00, to Legalzoom.com. Do you see where Im trying to get at??
The truth of the fact is, that once you incorporate, you are on your own, Let me ask you something? Is the attorney going to help you with the following:

• Bylaws
• Resolutions
• Corporate Minutes
• File form 2553 (if you plan to file for sub-chapter S) which it would be a good idea.
  
• Form S-4
• Initial Biennial Statement (varies from state to state)
• Obtain FED Tax ID

These are some of the things that you should ask him before you decide to go with an attorney. I don`t know how well you know the attorney, but to be honest with you, Go through www.filemybusiness.com or a well known company The Corporate Corporation
These are some company`s that can help you. When I incorporated I used "the company corporation" to incorporate my business.

I paid $572.00, it was done quickly and when I recieved the package, it was up to me to create the paperwork, Along with my Articles of Incorporation, I got my fedral tax id, Embosser, A set of NOLO books, that walk you step by step, through the minutes, and bylaws. Oh I almost forgot I got a nice Binder for all my paperwork "With the company name"

I think your best bet is spend the $572.00 with the company corporation, save yourself 625.00 or so, save 400.00 of that for your Taxes, and with the rest treat yourself to a nice restaurant, and celebrate.




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Edgar Monroy
Web Developer / Owner / Consultant
When starting your own business the need to "know-how" is greater than money!
http://www.nuevolution.net

Well Nuevolution,

the attorney will do everything that you mentioned. The only thing that we did not speak about was the nice binder and the embosser stamp. So now  its a question of the cost. I know i can save by doing it on my own but what if i leave something out? it could cost me what I`m saving and more later on. They say it takes money to make money so is this one one of those cases where if i spend a bit more to start it will be beneficial in the future?

I think it depends on  exactly what you have in mind. If your company is just you and you are forming a LLC then I think you would be fine using LegalZoom or a similar service. If several people are involved or there are other complicating factors perhaps an attorney would be a better choice. I found LegalZoom`s customer service people to be very helpful in answering my questions.

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Janice - Splash Virtual Assistance

There is a website whose corporate packages start at $59.95.  All personalized information.   Try  www.instantinc.us

This is a great thread.  Anyone know where I could find out about where I have to incorporate (without paying a lawyer by the hour?).
Myself and my partner are living in different states, and most of our business may come online from different states than those we live in. 

Thanks,
Ril

Hi,

you can actually get the best of both worlds: an attorney guiding you every step of the way and affordable incorporation services. I personally signed up for the business legal plan at www.legalserviceplans.info and had my corporation set up at less than the LegalZoom cost + got unlimited legal consultations from my plan and the attorneys went over all the details with me, advantages and disadvantages of different states, forms of organizations etc. I think Pre Paid Legal plan  is the best service out there. Good luck!