I don’t know how long you’ve thought about it, but it’s an important step for serious entrepreneurs. I won’t admit how many years I’ve put off the decision (it’s embarrassing!) but suffice it to say it’s more than two.
What am I talking about? Making the decision to form a corporation, a LLC, a partnership or whatever format best suits your internet business.
After much deliberation, I chose the LLC (Limited Liability Company). There are many choices and the site I chose is waiving their normal $149 processing fee for the month of December! I don’t know about you, but to me, that’s a ton of savings!
I also opted for a “delayed filing” to actually form my LLC in January but I wanted to take advantage of the big savings, so I invested in myself. One of the most important reasons to form your own company is because today we live in such a litigious society – and most of us should protect our assets. If you have a LLC, then anyone who does decide to sue you cannot take your home, cars, etc.
At least go check out what they are offering, OK? Visit Intuit’s My Corporation website and use their very helpful “Help Me Choose” option to see what’s right for you and your business. They have a ton of helpful information there, as well.
TIP for the DIY Crowd: I saved even more money by deciding not to pay for all the cool extra services (those with more money than time would not want to do that) but I figure I can try doing it myself at least for the first year, and if it sucks, then I’ll opt for having someone else do it (filing annual reports, being my own registered agent, etc).
The only thing I couldn’t resist though was the *extra* option to have my own official seal with my new company name on it. Yeah, it’s probably ‘a vanity thing’, but gheesh, I’ve worked hard all my life, so what’s so bad about rewarding myself with a $40 seal that I can stamp all of my business papers with? It felt good just clicking that option. :-)
I encourage you to at least look at what they are offering (and save $149 til the end of December) and know that whatever you do, I wish you all the success in the world with your business.
Happy Holidays!
Donna