Re: O/T Starting my own Buisness

Posted by Case Lady on September 12, 2005 at 18:44:47 from (65.169.128.110):

In Reply to: O/T Starting my own Buisness posted by perette on September 12, 2005 at 10:35:27:

Also, you might check into setting up a limited liability corporation or a sub-S corp. Come up with a written lease for all your equipment and lease the equipment from yourself to the corporation - this will need to be notarized and filed with your local county court clerk. This does two things, it limits what the corp. owns in case someone does actually try to sue you for everything you own - but this will require you to set up a seperate set of papers and checking accounts - keep your personal stuff away from your company stuff and in most states there is a cap for what a corp. can be sued for. You can go to the Secretary of State/your state website on the internet and get most of the paperwork you will need. In most states, it is going to cost you about $100 or so to incorporate and you might want to spend the extra money to get either a CPA or an attorney to do the leg work for you. And also, be sure and find a good accountant to do your books, figure your taxes, etc. The IRS just loves small business owners who don't take the extra time and expense to do things right to start with. Best of luck to you! Case Lady

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