4 ms·
Good basic outline. It's too bad the difficult part of incorporating is the upkeep of accounting, taxes and everything else that goes with it. I too spent a cou
by jaredstenquist 16y ago
Good basic outline. It's too bad the difficult part of incorporating is the upkeep of accounting, taxes and everything else that goes with it. I too spent a couple hundred to incorporate, but thousands for the CPA, bookeeper, lawyers, etc.. to keep you in check. My startup is up to 11 employees though.
If it's just you or you and a friend starting something basic, a local business attorney should be able to keep you in check for $100-$150 an hour a few times a year. Early on I actually found some local contests for startups and won $4,000 in attorneys fees once, and once I got bigger applied for another one and received $10,000 in fee credit.
Look around, there are lots of people willing to help young startups. Offer to use an attorney on deferred payment status until you close at least a $1MM series A or have $1MM in revenue. From my personal experience many will do this for the chance at having you as a longtime client when you make it big.
Good luck!
- spot 16y agoRight, and it's way easier/cheaper to keep an LLC than a corp with shareholders.