Should I do the incorporation myself?

Discussion in 'Growing and Managing a Business' started by PennyPincher, Dec 29, 2009.

  1. PennyPincher

    PennyPincher
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    I'm about to launch my business and need to incorporate. Should I do the filing myself (my state has online forms) or should I have someone do it for me? The budget is tight but I don't want to cause a problem for myself down the line.:confused:

    Thanks,
    PennyPincher
     
  2. Fergal

    Fergal
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    Welcome to Business Advice Forum PennyPincher and thanks for asking your business questions. Whilst you can certainly do the filing yourself it can sometimes help greatly to run everything by an accountant before hand. A good accountant can save you a lot of money and time. Do you by any chance know any accountants that you could have a chat with.

    If you decide to do the filing without the advice of an accountant you could benefit from maintaining good contact with your local revenue office. Ask them lots of questions and get them to point you in the right direction re form filling etc.

    Good luck with it and please keep us posted.
     
  3. myusacorporation

    myusacorporation
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    PennyPincher,

    Yes, you can go through the entire process yourself and save on extra fees. There are few reasons why many people choose to incorporate with a professional incorporation company or CPA/Attorney:

    1) They don't know and are not interested in researching how to do it correctly.
    2) They need professional advice on which type of entity to form and in which state
    3) Some states make it just too difficult:
    - states often reject names that look or sound to similar already registered names. Professional incorporators know how to avoid those rejections.
    - forms that are just not complete (yes, and we have many cases where we need to supplement fields, e.g. Alabama),
    - instructions that are far from clear,
    - or ask you to draft your own Articles (e.g. Iowa) based on the state requirements,
    - states that have complex requirements (such as Nevada that requires to file the Articles, then file the Initial List of Shareholders, then file a business license.......)
    - states that have publication requirements (like New York...)
    - and the list could go on.

    All those little nuances make it just easier to outsource the whole filing thing to a company such as ours. We already stepped on all the mines, so we know how to complete that process with minimum stress for the future business owner.
     
  4. luisfshort

    luisfshort
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    hi PennyPencher,

    just to step back a minute, why did you decide you need to incorporate? S-corp or C-corp? Why not LLC, or some other structure?

    Maybe you have already weighed the different options, but I just wanted to check to see if you know why you were choosing to incorporate. Depending on your business, whether you have partners or investors, etc you might be better off with a different structure.
     
  5. Henry_Jakson

    Henry_Jakson
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    Yes, you can. You have to sign a Resident Agent acceptance form. You will have to it together with the Articles to the Secretary of State.
     

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