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Old 07-23-2011, 09:34 PM
jesse jesse is offline
 
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Default who did you use to form an llc?

planning to start off a part time computer repair company and i'm considering starting it as an llc. did you all use a lawyer, do it yourself or use a service such as legalzoom to form the llc?

thanks!
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Old 07-23-2011, 09:36 PM
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I utilized a lawyer, just because this was the easiest thing for me to do with all the other things that were going on. I have some friends that have used other methods, including their accountant and some that did it themselves. What I have heard from all of them, for the little bit of savings most of them wish they would have let someone else handle it.
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Old 07-23-2011, 10:31 PM
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I'm in the process of submitting my paperwork on Monday. I did a lot of research and looked into options such as Legal Zoom and Incfile, but after talking to other small business owners as well as the Department of Assessments and Taxation in MD, I decided to just submit the paperwork myself and save some money.

I originally had wanted to go the Legal Zoom or IncFile route just to make sure I didn't miss anything, but for MD there is only the Articles of Organization for LLC that I need to fill out.

If you have any questions just call the proper department of your state...they'll let you know what you need!
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Old 07-23-2011, 10:42 PM
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I just filled out the Incorporated paperwork from Arizona's Secretary of State website. Pretty self explanatory. Takes about 2 hours
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Old 07-24-2011, 12:40 AM
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It's really an easy process, but I sat down with my accountant for an hour to have them process the paperwork, discuss what we need to do on a quarterly basis, tracking income/expenses, etc. Money well spent (not that it was a lot). It's nice to have people on your team!
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Old 07-24-2011, 03:40 AM
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Quote:
Originally Posted by jesse View Post
planning to start off a part time computer repair company and i'm considering starting it as an llc. did you all use a lawyer, do it yourself or use a service such as legalzoom to form the llc?

thanks!
It really depends on a few things:

First do you need a LLC? Keep it simple is the rule.

If you decide you really do need an LLC and then Do you have more money or more time right now? More money hire it done, if not, do it yourself. You don't say your location so I can't offer more help. Most states allow you to do it online with a visa. Your attorney and accountant will do it for you and they won't send you home to do it yourself just like we do not send home pc's to be restored with a recovery partition.

I ran my stores and business 17 years without an LLC or Corp. But when I got the size to sign $100k leases and $20k yellow page contracts I decided to Incorporate. I did mine own on the ks.gov site for $95. It is self explanatory.

However, I wouldn't do it for our California stores as they have a $800 per year filing fee and renewal. That is steep.

You can buy a book to tell you about the legal requirements to keep your LLC going and healthy its not near as onerous as a Corporation.

Basically keep your checking accounts and assets separate from personal to company. Don't mix money.

In our California stores we were required to buy general business and liability insurance anyway so we depend on that to cover any issues.
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Old 07-24-2011, 03:56 AM
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In Minnesota, it's as easy as signing up online and paying. I thought there was more to it, but nope. I paid $170 and checked out the rules online, was easy to do.

I LLC'd to protect my house.
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Old 07-24-2011, 03:35 PM
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Quote:
Originally Posted by jeubank View Post
I just filled out the Incorporated paperwork from Arizona's Secretary of State website. Pretty self explanatory. Takes about 2 hours
Same here. I customized mine, but basically it just followed the form that the corporation commission gives. Fill it out, send it in with the payment, done.

Edit: Forgot, had to pay for the newspaper advertising, too and then their confirmation letter that it was done.
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Old 07-24-2011, 03:51 PM
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Originally Posted by nightkingdoms View Post
Same here. I customized mine, but basically it just followed the form that the corporation commission gives. Fill it out, send it in with the payment, done.

Edit: Forgot, had to pay for the newspaper advertising, too and then their confirmation letter that it was done.
Taking a guess here but do you live in New York?
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Old 07-24-2011, 04:05 PM
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Taking a guess here but do you live in New York?
Nope, Arizona. That's why I quoted his post, same state.
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