65 ms·

Offer HN: Help on Incorporation

32 points by camz 16y ago

bherms 16y ago
Thanks a ton for this! I'm in the middle of trying to figure out how to incorporate, how much $ I'll need, which route to take, etc... Couldn't have come at a better time. PS, I still plan on contacting you for advice per your offer on my submission about business filing (http://news.ycombinator.com/item?id=1946503 http://news.ycombinator.com/item?id=1946503). Just waiting until I'm actually ready to move my feet :)
- camz 16y ago
  No problem, I'm glad that I was able to help. I'm going to expand the incorporation series to answer more complicated questions as well. Also, my next series of podcasts is going to be on outsourcing and offshoring. I've spent over 6 months and tons of cash on contractors from india, eastern europe and asia. I'm about to leave for asia for a month to interview/hire developers in person. I think that everyone wonders what's the best way to hire great talent and leverage their resources. If you have any questions, let me know and I'll do my best to help! I'm available on hn office hours as well if you need to find me.
619Cloud 16y ago
Great info. What's you take on branding trademarks, such as my company name? Is this something I can do myself, or is a lawyer required? Is it even worth the time to trademark my company name? Thanks.
- camz 16y ago
  You know, I honestly didn't even consider trademarks as a question for some reason. But, I think that's an awesome point that I can't believe I overlooked, so thanks for pointing out a huge oversight on my part. I think trademarks have their place, but it's something that's really only useful when you're a larger competitor in your industry. Ex: The crocodile or american alligator is a keystone species that allows an entire ecology to survive and thrive. Twitter's "trademark" is a keystone because it has allowed numerous companies develop through it's trademark such as tweetdeck and etc. The term tweet has become a dictionary term at this point so their trademark is very valuable. But, it's only valuable now because they've reached critical mass. The irony is that if you don't trademark your name early, then someone else will steal it before you do. I think that it's a decision that needs to be examined thoroughly because it is somewhat expensive. I will definitely start another podcast series on trademarks specifically to address this issue! Thanks!
  - 619Cloud 16y ago
    Makes sense. Any idea ballpark what a trademark of a company name would cost in California?
    - camz 16y ago
      Honestly, off the top of my head I have no idea. I've registered a few trademarks but its been a while so I need to refresh my memory and do some due diligence before I give you any numbers or facts. Sorry, but I'll definitely write a post and record a podcast that will go over the highlights and specifics.
    - eschutte2 16y ago
      US trademark filing fee is $325. That's $50 more than I paid a few years ago.
  - cperciva 16y ago
    The term tweet has become a dictionary term at this point Technically, the word 'tweet' has been in dictionaries since long before Twitter came along...
    - anamax 16y ago
      > Technically, the word 'tweet' has been in dictionaries since long before Twitter came along... The word "windows "was in dictionaries long before Microsoft, yet Microsoft has a trademark on "Windows" when used in certain circumstances.
stellar678 16y ago
Frankly, I found the snottiness in the podcast really obnoxious. If you could tone down the unnecessary insults to your listeners/most everyone who is not you, and drop most of the swearing, there was some good advice in here. (I particularly like the general advice that many situations don't require incorporation at all.) I'd also be careful suggesting that people create S-Corps and book most of their personal income from the corp as 'distributions' - sure it's possible to save on payroll tax, but it's a risky proposition unless you book a reasonable (i.e. around what someone else would pay you for the work) amount as wages.
- camz 16y ago
  I honestly didn't mean to sound snotty or obnoxious, I just strongly disagree with people suggesting to others to pay exorbitant fees for incorporations when the information is freely provided. But, I will definitely take your advice into consideration and try my best to adjust the pdocast to fit the audience.
  - stellar678 16y ago
    I hope the suggestion proves helpful. And nice to hear that you're looking out for people! How are you picking this knowledge up yourself? Also, I may have missed this in the podcast but: when and why did you decide that incorporation was right for your business?
    - camz 16y ago
      Well the technical knowledge comes from my years of experience as a professional tax accountant. The decision making behind the business came from the fact that I wasn't willing to spend more than my business would generate. So, I was always re-evaluating expenses to make sure that they were directly contributing to the bottom line. Incorporation is not a factor thats vital until you're generating significant revenues because it's always going to increase your costs. As a personal note, I invested $500 dollars into a business initially and waited until I was making over $30,000 in net profits until I even considered incorporating because my profits would increase by incorporating with the proper tax planning.
fookyong 16y ago
Phenomenally useful. Contrary to one of the other posters here, I didn't find the tone obnoxious. I found it made for a more interesting podcast because the guy is obviously opinionated, but for a reason - he's knowledgable. Keep it up, I say. You might even want to have a bit of fun branding the podcast - angrytaxaccountant.com could turn into something big!
- camz 16y ago
  Thanks fookyong, haha I don't think that I've met an accountant that has been bitter and angry yet lol. I'm definitely going to keep podcasting new content on a weekly basis as long as my schedule permits and I'm able to find content that's pertinent everyone here. Hopefully, I can be of help to someone. Thanks, again!
rumpelstiltskin 16y ago
Any chance for a transcript?
- camz 16y ago
  Sorry, I'd have to hire a virtual assistant in order to provide a transcript. I'd like to keep the content free, so I won't be providing transcripts unless someone is willing to volunteer their time or cover that cost. Thanks!
  - Natsu 16y ago
    You can use the one I posed above. It's not exactly a transcript, but you can post it on your website, edit it to suit you or just ignore it. Edit: I just realized that I misspelled your name. I'd like to blame the spellchecker, but it might have been me. Sorry!
- Natsu 16y ago
  It's way too long for an HN comment, so I put it here: http://pastebin.ca/2033868 http://pastebin.ca/2033868 This is more like a summary or a set of lecture notes than a proper transcript, but I thought it might be useful to someone else. Camz is free to make any use of this he wants to, including commercial use, given that I derived it from his talk. I did a lot of editing and I hope this is easier to read. That includes getting rid of the swearing, which so many people complained about. I tried to stay true to the original, but I also rewrote a few parts for clarity, removed parts where he repeated himself and moved a few things around to better organize his ideas. Also, in one part, he was talking about business plans and business models, and said one when he meant the other, so I corrected that. Finally, I added some headings so you can find the part of the talk you want and see how the talk was organized. Edit: Made a fixed version where I spell his name correctly (King -> Keng).
jscore 16y ago
Awesome podcast. I actually liked your delivery style although I'm probably in the minority. Reminds me of the "You suck at photoshop" tutorials on youtube.
cperciva 16y ago
I found that the constant stream of "hell", "freaking", "dumbass", "crap" distracted from the content. I appreciate the sentiment behind them, but I'd hope you can find a way to make your points without such language. (Side note: A lawyer once told me that he would "never use language on a website which he wouldn't use in court" -- I think this is probably a good guideline to follow.)
- SkyMarshal 16y ago
  Also, as far as expressiveness goes, swear words are pretty inarticulate, blunt instruments. There is almost always more accurate, effective language to express you sentiments.
adaml_623 16y ago
What is the offer mentioned in the item title. 'Offer HN'. Sorry to be negative but I'm not sure a podcast counts as an offer. Disclaimer: Haven't listened to the whole podcast. Not based in the US so not interested in US specific law knowledge.
- camz 16y ago
  I'm offering help on incorporations, the podcast is just a way for people to have an idea of what the process is like and an understanding of why to incorporate. Most people feel obligated to incorporate to have a "real business" when it's usually unnecessary. If you still have questions after listening to the podcast, I'm offer my help to answer those questions and to provide further guidance in the process.

32 points by camz 16y ago

Thanks a ton for this! I'm in the middle of trying to figure out how to incorporate, how much $ I'll need, which route to take, etc... Couldn't have come at a better time. PS, I still plan on contacting you for advice per your offer on my submission about business filing (http://news.ycombinator.com/item?id=1946503 http://news.ycombinator.com/item?id=1946503). Just waiting until I'm actually ready to move my feet :)

camz 16y ago
No problem, I'm glad that I was able to help. I'm going to expand the incorporation series to answer more complicated questions as well. Also, my next series of podcasts is going to be on outsourcing and offshoring. I've spent over 6 months and tons of cash on contractors from india, eastern europe and asia. I'm about to leave for asia for a month to interview/hire developers in person. I think that everyone wonders what's the best way to hire great talent and leverage their resources. If you have any questions, let me know and I'll do my best to help! I'm available on hn office hours as well if you need to find me.

619Cloud 16y ago

Great info. What's you take on branding trademarks, such as my company name? Is this something I can do myself, or is a lawyer required? Is it even worth the time to trademark my company name? Thanks.

camz 16y ago
You know, I honestly didn't even consider trademarks as a question for some reason. But, I think that's an awesome point that I can't believe I overlooked, so thanks for pointing out a huge oversight on my part. I think trademarks have their place, but it's something that's really only useful when you're a larger competitor in your industry. Ex: The crocodile or american alligator is a keystone species that allows an entire ecology to survive and thrive. Twitter's "trademark" is a keystone because it has allowed numerous companies develop through it's trademark such as tweetdeck and etc. The term tweet has become a dictionary term at this point so their trademark is very valuable. But, it's only valuable now because they've reached critical mass. The irony is that if you don't trademark your name early, then someone else will steal it before you do. I think that it's a decision that needs to be examined thoroughly because it is somewhat expensive. I will definitely start another podcast series on trademarks specifically to address this issue! Thanks!
- 619Cloud 16y ago
  Makes sense. Any idea ballpark what a trademark of a company name would cost in California?
  - camz 16y ago
    Honestly, off the top of my head I have no idea. I've registered a few trademarks but its been a while so I need to refresh my memory and do some due diligence before I give you any numbers or facts. Sorry, but I'll definitely write a post and record a podcast that will go over the highlights and specifics.
  - eschutte2 16y ago
    US trademark filing fee is $325. That's $50 more than I paid a few years ago.
- cperciva 16y ago
  The term tweet has become a dictionary term at this point Technically, the word 'tweet' has been in dictionaries since long before Twitter came along...
  - anamax 16y ago
    > Technically, the word 'tweet' has been in dictionaries since long before Twitter came along... The word "windows "was in dictionaries long before Microsoft, yet Microsoft has a trademark on "Windows" when used in certain circumstances.

stellar678 16y ago

Frankly, I found the snottiness in the podcast really obnoxious. If you could tone down the unnecessary insults to your listeners/most everyone who is not you, and drop most of the swearing, there was some good advice in here. (I particularly like the general advice that many situations don't require incorporation at all.) I'd also be careful suggesting that people create S-Corps and book most of their personal income from the corp as 'distributions' - sure it's possible to save on payroll tax, but it's a risky proposition unless you book a reasonable (i.e. around what someone else would pay you for the work) amount as wages.

camz 16y ago
I honestly didn't mean to sound snotty or obnoxious, I just strongly disagree with people suggesting to others to pay exorbitant fees for incorporations when the information is freely provided. But, I will definitely take your advice into consideration and try my best to adjust the pdocast to fit the audience.
- stellar678 16y ago
  I hope the suggestion proves helpful. And nice to hear that you're looking out for people! How are you picking this knowledge up yourself? Also, I may have missed this in the podcast but: when and why did you decide that incorporation was right for your business?
  - camz 16y ago
    Well the technical knowledge comes from my years of experience as a professional tax accountant. The decision making behind the business came from the fact that I wasn't willing to spend more than my business would generate. So, I was always re-evaluating expenses to make sure that they were directly contributing to the bottom line. Incorporation is not a factor thats vital until you're generating significant revenues because it's always going to increase your costs. As a personal note, I invested $500 dollars into a business initially and waited until I was making over $30,000 in net profits until I even considered incorporating because my profits would increase by incorporating with the proper tax planning.

fookyong 16y ago

Phenomenally useful. Contrary to one of the other posters here, I didn't find the tone obnoxious. I found it made for a more interesting podcast because the guy is obviously opinionated, but for a reason - he's knowledgable. Keep it up, I say. You might even want to have a bit of fun branding the podcast - angrytaxaccountant.com could turn into something big!

camz 16y ago
Thanks fookyong, haha I don't think that I've met an accountant that has been bitter and angry yet lol. I'm definitely going to keep podcasting new content on a weekly basis as long as my schedule permits and I'm able to find content that's pertinent everyone here. Hopefully, I can be of help to someone. Thanks, again!

rumpelstiltskin 16y ago

Any chance for a transcript?

camz 16y ago
Sorry, I'd have to hire a virtual assistant in order to provide a transcript. I'd like to keep the content free, so I won't be providing transcripts unless someone is willing to volunteer their time or cover that cost. Thanks!
- Natsu 16y ago
  You can use the one I posed above. It's not exactly a transcript, but you can post it on your website, edit it to suit you or just ignore it. Edit: I just realized that I misspelled your name. I'd like to blame the spellchecker, but it might have been me. Sorry!
Natsu 16y ago
It's way too long for an HN comment, so I put it here: http://pastebin.ca/2033868 http://pastebin.ca/2033868 This is more like a summary or a set of lecture notes than a proper transcript, but I thought it might be useful to someone else. Camz is free to make any use of this he wants to, including commercial use, given that I derived it from his talk. I did a lot of editing and I hope this is easier to read. That includes getting rid of the swearing, which so many people complained about. I tried to stay true to the original, but I also rewrote a few parts for clarity, removed parts where he repeated himself and moved a few things around to better organize his ideas. Also, in one part, he was talking about business plans and business models, and said one when he meant the other, so I corrected that. Finally, I added some headings so you can find the part of the talk you want and see how the talk was organized. Edit: Made a fixed version where I spell his name correctly (King -> Keng).

jscore 16y ago

Awesome podcast. I actually liked your delivery style although I'm probably in the minority. Reminds me of the "You suck at photoshop" tutorials on youtube.

cperciva 16y ago

I found that the constant stream of "hell", "freaking", "dumbass", "crap" distracted from the content. I appreciate the sentiment behind them, but I'd hope you can find a way to make your points without such language. (Side note: A lawyer once told me that he would "never use language on a website which he wouldn't use in court" -- I think this is probably a good guideline to follow.)

SkyMarshal 16y ago
Also, as far as expressiveness goes, swear words are pretty inarticulate, blunt instruments. There is almost always more accurate, effective language to express you sentiments.

adaml_623 16y ago

What is the offer mentioned in the item title. 'Offer HN'. Sorry to be negative but I'm not sure a podcast counts as an offer. Disclaimer: Haven't listened to the whole podcast. Not based in the US so not interested in US specific law knowledge.

camz 16y ago
I'm offering help on incorporations, the podcast is just a way for people to have an idea of what the process is like and an understanding of why to incorporate. Most people feel obligated to incorporate to have a "real business" when it's usually unnecessary. If you still have questions after listening to the podcast, I'm offer my help to answer those questions and to provide further guidance in the process.