Starting an LLC

One more opinion...

If you are forming an entity (LLC,corp, whatever) decide what your reason for doing so is. If business/partnership/tax related, go see a CPA. If liability/complex partnership, go see an attorney. DO that FIRST, since you only get value from them at the advice stage. Anyone can do the paperwork and a reasonable attorney or CPA will charge a flat fee for doing the paperwork. You can even ask up front what their charge is, if tehy say hourly rates go get a new one. If they say flat rate plus extra for consultations, that is a better choice.

If everything is very straightforward (you are only partner, no tricky liability, you do your homework, etc) you may be okay going the cheaper route. There are also companies locally (one here called the Board Room) that do simple legal filings, no attorneys only paralegals. Just keep in mind that if you screw something up, you will never know until it is way too late to fix it (usually while being sued).
 
you can learn soooo much about this process by spending a month reading everything on and offline that you can get your hands on about this. Even opinions and advice will vary from attorney to attorney.

Get some books from nolo.com - understand what you are trying to accomplish and save yourself some money unless it is complicated.
 
oh and one other thing - look out for hidden costs. - for example in NY - there is a publication requirement where you need to publish 2 articles in papers chosen by the county clerk announcing your LLC - in manahattan that costs about 1300.

in addition i just got slammed with the tax filing fee - 500 for each of my 2 LLCs - be prepared for hidden costs that come up - differs from state to state.
 
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