Are there resources to help me set up my LLC myself? Or must I hire a lawyer or accountant?
I have a sole proprietorship now, but for liability reasons, want to go to an LLC. However, being in startup mode, I'd like to limit my expenses also by going the DIY route if possible. Resources?
Very easy to do yourself, in most states. Got to your department of state and ask for the forms and instructions for forming an LLC, they always seem happy to assist from my experience
Over the years I have found that its best to let the professionals do it, therefore below is the name of a company that will set up your corporation for approximately $400. Much cheaper than the average attorney and very efficient.
Let them know that I referred you.
In my experience, it makes sense to engage an accountant who understands the tax filing requirements of your state. This will only cost a small amount and will save you from big headaches in the future.
I have an association with an organization that can provide you Legal protection and advice for a minimal cost.
For further info please reach out to me. John
Irrespective of the type of company you float, a lawyer and a CA are a must.In any case it is better to follow all statutory compliances ab initio.
You can do it all on your own. The best way to do that is through Legalzoom.com.
This might be helpful http://www.sba.gov/content/limited-liability-company-llc
You can do it yourself, as many people have attested to.
HOWEVER - depending on the type of business you run, it may be advisable to get a lawyer. Things like exit strategy, growth and/or partnerships, etc. all should be accounted for before you register. Going back to change corporate bi-laws (or worse, registering a new company) can be a massive pain in the butt. You also don't know what you don't know, and despite learning stuff on your own, you may not be registering yoruself the most tax-efficient and smart way. Even the state/country you register in will affect everything.
Do you know if an LLC is even the best structure for your business?
There are lawyers who can do a great job drafting your papers for you at very reasonable rates. Bootstraping is a great way to get a business going, but there's a difference between being smart with your money and being cheap.
Don't cheap out when it comes to registering your corporation. You will almost always regret it eventually.
Setting up a LLC is very simple. Go to your state's web site and look for the LLC paperwork. If your state provides a Business Center, that is ran by the state you can do everything there. I do this kind of paperwork for my clients. Since I have a corporate law back ground.It will just take a little research on your part. Plus don't forget to do the paper work for the bank when you open a account. Such as a operating agreement, articles of organization. Good luck and if you have questions you can drop me a line.
Are you also your own doctor? Plumber? DIY had it's place for those with skills but If your business has merit and liability then an attorney should be part of your team. Under $1,000 gets you a professional and if your business can't afford that then of course you can file papers yourself and do it on the cheap, but you will get what you pay for.