this post was submitted on 10 Nov 2023
1 points (100.0% liked)
Entrepreneur
0 readers
1 users here now
Rules
- No Personal Attacks - criticism of ideas is allowed, attacking people is not.
- Self Posts Only - links can only provide supplementary material. Your post must contain enough content to have a discussion.
- No “How To Get Rich Quick” posts - This community is not about making a quick buck. Posts asking the community how to make $X, without making specific reference to a reasonable idea, are not tolerated.
- Avoid unprofessional communication - Please treat fellow entrepreneurs like respected coworkers, label conversations if NSFW and avoid deliberate provocations.
Please feel free to provide evidence-based best practices, share a micro-victory, discuss strategy and concepts with a frame work, ask for feedback, and create professional conversation. Treat every post as if you're at work and representing the best version of yourself.
founded 2 years ago
MODERATORS
you are viewing a single comment's thread
view the rest of the comments
view the rest of the comments
Easiest is honestly to just do it yourself. Its not half as difficult as they make it out to be with all the " pay us 300" scams out there. To make it easier use chat gpt its actually surprisingly good at providing you with exactly what you need to look for.
as far as advice.
get a lawyer and an accountant to help you do the initial formation and save yourself headaches and problems down the road upcounsel has some decent options. Also open a separate bank account/credit card early on for your business and pay everything through that to avoid admin headaches later.
While I know you said affordable in your question, be prepared to spend a lot more money setting things up properly than you anticipate. Having an llc alone will set you back $800 a year just for the pleasure of having one. This ignores other licensing and fees you may require. If you do a sole prop you may get a little more mileage out of your money but lose the protection of an LLC. An improperly formed LLC has a lot of risk too though.
Wow isthatayeti . . . Thank you so much for this information. I’m printing this out!