Incorporating a Business Online When Just Starting Out

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kenneth.stokes
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Joined: 04 Jan 16
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5 Jan 16 09:19:50 pm
I am looking to incorporate my business online and was looking for a few suggestions? I looked into Legal Zoom but the cost of incorporating through their site runs is about $1000.00. Any suggestions would be truly appreciated.

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fudjj
Posts: 5913
Joined: 27 Jul 07
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6 Jan 16 06:20:30 am
Hi Kenneth,

I'm not an expert in US prices, but I would suggest speaking to a local business group in the area (if one exists of course) There is usually some commerce group available that may have a good idea or even a legal adviser. That said, these online options usually are the cheapest and from what I have heard about LZ, although not a lot, is that the service is well priced.

Sorry I can't be much more help than that unfortunately.

Can I ask why you want to incorporate, you're just looking at divesting yourself legally or looking for a better tax deal. I mean is it an expense you really need to absorb at this point?


Mark (fudjj)

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Full Member
kenneth.stokes
Posts: 5
Joined: 04 Jan 16
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6 Jan 16 05:29:44 pm
fudjj wrote:Hi Kenneth,

I'm not an expert in US prices, but I would suggest speaking to a local business group in the area (if one exists of course) There is usually some commerce group available that may have a good idea or even a legal adviser. That said, these online options usually are the cheapest and from what I have heard about LZ, although not a lot, is that the service is well priced.

Sorry I can't be much more help than that unfortunately.

Can I ask why you want to incorporate, you're just looking at divesting yourself legally or looking for a better tax deal. I mean is it an expense you really need to absorb at this point?


I noticed that a number of wholesalers require a Tax ID in the United States. Also to answer your first question, yes I am looking to divest legally. I live in Illinois so I am not sure the tax deal would benefit.

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fudjj
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Joined: 27 Jul 07
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6 Jan 16 05:52:21 pm
Hi kenneth,

OK, understood about the liability side.

Just to clarify the tax id required by some suppliers. That doesn't require incorporating, all they need is proof that you are a registered trader, sole trader or anything of the type.

Cheers


Mark (fudjj)

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Full Member
kenneth.stokes
Posts: 5
Joined: 04 Jan 16
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6 Jan 16 05:57:32 pm
fudjj wrote:Hi kenneth,

OK, understood about the liability side.

Just to clarify the tax id required by some suppliers. That doesn't require incorporating, all they need is proof that you are a registered trader, sole trader or anything of the type.

Cheers

Okay. So how do I go about being a registered trader. Is there a link you could forward to me?

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fudjj
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Joined: 27 Jul 07
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6 Jan 16 09:12:23 pm
This link will work for you Kenneth.

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If you are in business on your own, no partners, then Sole Prop would be my suggestion for basic business registration. A MUCH cheaper option than incorporating when you're just starting out.

Cheers


Mark (fudjj)

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SaleHoo.com

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Full Member
kenneth.stokes
Posts: 5
Joined: 04 Jan 16
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6 Jan 16 09:22:48 pm
fudjj wrote:This link will work for you Kenneth.

Link hidden: Login to view ... ation.aspx

If you are in business on your own, no partners, then Sole Prop would be my suggestion for basic business registration. A MUCH cheaper option than incorporating when you're just starting out.

Cheers


Thanks for the info.

Full Member
neumannrichard
Posts: 13
Joined: 01 Jan 15
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12 Jan 16 11:11:44 am
Hello

I incorporated with Link hidden: Login to view last year. I am very happy with them. Good prices, good customer service...
Another option could be Link hidden: Login to view ; I work in this time with them to complete my registration with an ITIN e.g. Service is also good so far.

Perhaps it helps if you would seperate your business from your individuell person.
regards

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