[Hidden-tech] Starting an LLC?

Claire Spencer cspencer at som.umass.edu
Wed Jan 25 17:17:01 EST 2012


Hi David,

I thought I'd toss our conversation out to the rest of the community, in
case there are strongly differing opinions, but in summary: you probably do
NOT need to incorporate at ALL.

You can get a DBA to receive checks in your business name ($60 for 4 years
vs $500 per year plus extra paperwork)

You can get an EIN from the IRS for free

Many small business owners do not need the extra expense or hassle of the
extra paperwork & different tax regulations (& hiring an accountant to
figure it out is expensive too!)

Furthermore, if you are an LLC and seek a loan or credit, most lenders will
require you to personally guarantee the funds anyways.

I am NOT a lawyer, accountant OR financial adviser - this is simply my own
experience with starting several (small) business.

If you DO eventually decide to incorporate, there are many great resources
for deciding *when* to incorporate; here's one:
http://www.startupcompanylawyer.com/2009/07/20/when-do-i-need-to-incorporate-a-company/

In the meantime, save some money and a lot of headache and don't forget to
KISS*

*(Keep It Simple, Stupid)


Claire Spencer
MBA Candidate 2012
The Isenberg School
*(413) 497-8245*



On Tue, Jan 24, 2012 at 12:47 PM, David F. Farkas <david at farkas.com> wrote:

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>
>
> Has anyone used one of the online options for doing the paperwork for an
> LLC? If so... your experience/recommendations?
>
> Thanx
> David
>
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