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In the past, I've done my consulting strictly on a W2 basis, but there are certain advantages to forming an LLC (tax advantages, can do corp-corp with other companies) that are making me lean towards taking the plunge. Since I'm located in NH I believe I would be filing here.
Anyone done this and have any advice on the subject? Anything related to the costs and responsibilities that come with it, generally or specific to NH, would be helpful. Is this something I need a professional to help with? It looks like it will cost me $140 to file with the state, but then there are all these online companies that offer assistance with the filing for a few bucks extra (50-100 or so). Or am I gonna need a local CPA to help with filing / tax prep for this sort of thing?
I advise getting a lawyer to prepare documents,
I did my first LLC back in 1995 within 1 month of when they were first allowed here in NH
make sure you have provisions for disolution of the LLC in your documents, it saved my ass last your when I ended my old LLC's ( I had 2 seperate LLCs, one owned the business, the other owned the real estate...someone sues the company, the real estate is owned by another company)
you should also consider advice from both your lawyer and accountant whether you form an LLC or an S corp
online companies just fill out a canned format that may or may not be right for your business
RandyO
IBA#9560
A man with a gun is a citizen
A man without a gun is a subject LETS GO BRANDON
Being a member of the MA society of CPA's I would say get the help of a professional. That's why they're there.
As an everyday average Joe I'd say get the help of a professional. Starting out on the right foot is imperative especially in this economy. A professional will be able to identify problems and give the best advice.
A CPA or some sort of small business consultant would be ideal.
-Alex
I can resist everything but Pete's mom.
my first 2 LLCs were partnerships with another individual, my new LLC, I am a partner with myself, this allows me to take on partner(s) if I so choose
sole owner LLCs require you to get 2 different EIN numbers one for the LLC and one for you individually, the reason is because business formations are public information, by having a personal EIN, you don't have to publish your SS # with the formation documents
RandyO
IBA#9560
A man with a gun is a citizen
A man without a gun is a subject LETS GO BRANDON
boston Moto did it last year. We used a lawyer. safest route. i think we paid about $500 total.