When you start your own business, the first thing everyone wants to know is whether youve established a business entity. After all, what could be cooler than having your own business? Owning your own corporation is pretty cool.
There are all kinds of benefits that come with incorporating your own business. A corporation comes with great tax advantages and opportunities to save you and your business money. However, owning a business comes with a lot of expenses. While incorporating your business has its perks, the process does cost money. Its easy to defer establishing your corporation in an effort to cut back on mounting business expenses.
However, incorporation services can vary widely. You probably wont find a free incorporation service, but you should know that there is an incorporation service out there that fits your needs and fits your budget.These days, business owners have numerous choices when it comes to incorporation services. Traditionally, corporations are filed with the help of an attorney. Now, business owners can also choose from a wide selection of online incorporation services.
If you want the help of an attorney, you can select an attorney with a background of expertise in your particular business. Its the attorneys job to make sure that all of your paperwork has been filed correctly and in a timely manner. He or she can thoroughly explain the process to you and what you can expect in terms of future perks and costs.
However, attorneys fees can really add up. You can expect a flat fee between $500 to $1000 and even an accumulation of fees that could amount to several thousands of dollars. This on top of varying state and federal filing fees which can range from less than $50 to more than $1000 depending on your state, incorporating your business can be an expensive venture.
Its important to view the cost of an incorporation service as an investment. You will get your money back eventually in tax breaks and other savings. However, that is not to say that you cant find ways to save money during the incorporation process.
Online incorporation services are a great modern alternative for those who dont have a situation that requires an attorney or that have a limited budget. Online incorporation services start around $100 dollars (not including state fees) and increase from there, but generally cost significantly less than using an attorney.
When you establish your corporation through an online vendor, your corporation is just as official as it would be if youd hired an attorney. You get the same tax advantages and perks. There is absolutely no difference whatsoever. You will merely have to act as your own advocate and research what kind of corporation is best for your business. An online vendor presents a more hands-on experience for you as the business owner.
Disclaimer: This article is for informational and entertainment purposes only, and should not be construed as legal advice on any subject matter.
About the AuthorMelissa Gordon is the publisher of LegalBuffet.com, a complete online resource that compares the legal services offered by various online companies. Find the best company for your incorporating needs at http://legalbuffet.com/incorporation-services/.
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