QUESTION

how do I incorporate my business?

Asked on Jun 23rd, 2020 on Business Law - California
More details to this question:
incorporating and need some help please. at the lowest cost possible, with the greatest legal protections, and longterm withstanding endurance.
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1 ANSWER

Estate Planning Attorney serving Monterey, CA at Pierce King, P.C.
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If you want to do business the right way, now is not the time to penny pinch. Think about hitting a golf ball; if you are off just slightly when you hit the ball, it will go sailing in the wrong direction and end up far away from the point you wanted to hit. If you start your business on the wrong foundation, you could end up in trouble later. I've fixed countless companies set up on LegalZoom or other sites when people literally guessed at the answers to questions. If you are educated and know the answer to all the questions, those sites may be a good option. If you don't understand the questions and/or guess at answers, you are not doing yourself any favors. Yes, you save money up front, but you will likely have to spend MORE money later fixing the problems you cause. All that having been said, the first thing you need to do is call your CPA and find out the most tax-advantageous form of business for YOUR particular business. Right now, S Corporations are popular, but they are not for every type of business. Once you know the type of business you want to set up, you need to learn what the law requires both for setting up the business and your legal obligations after it is set up. If you simply set up a corporation and then never do any of the legally-required corporate formalities, it is possible you could lose your "corporate shield" -- the thing that protects you from personal liability.  I understand it costs a lot of money to set up companies (having a logo made, setting up a website, etc.), but the corporation is what will protect you from liability, if set up and maintained properly. I wish you all the best in your new business venture!      
Answered on Jul 20th, 2020 at 11:15 AM

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