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I have been considering getting an llc but I'm not sure if its worth it. It would cost me $304 dollars on legalzoom.com to get an llc. How much did it cost some of you guys? I'm not all that worried about the liability as much as I am the credability it gives. Is the legitimacy worth the extra 304 dollars? Are there any other cheaper options that offer equal legitimacy?
 

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i did my llc online through the state of new jersey web site but i am sure your state probably has the same setup you should look into it .cost me 125. and about 20 min not to difficult to do,you might have to look into different local licences also.
 

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Going, INC or LLC is worth every dollar spent, if only to shelter your personal assets. Many new tax benefits become available when your not a sol- proprietor, many choices for busisness structure; however you should be informed of the benefits & risks associated with your choice.


Did our incorporation through our CPA for under $300.00, and they did all the work:laugh: and we just signed, very easy. I would avoid the internet offers to incorporate; it's important to be able to ask questions during the process.
 

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It cost me $125 and 30 min of my day....that's all and the benifits are far greater than the hassle and expense.
 

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It cost me $125 and 30 min of my day....that's all and the benifits are far greater than the hassle and expense.
What are the benefits that make it worth it? I am also interested in it but when I asked my accountant about it , they told me that there are loopholes around an INC or LLC and they could still come after your personal assets. They told me to make sure I have more than enough liability insurance (1 million plus) and I should be covered. That is what I did but I am still interested. Are there any websites that give in depth descriptions of the benefits?
 

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If you operate your equipment then being INC. or LLC is not a good idea. It does not protect yourself, or your assets. You need to have liability for that.

The reason you are not protected if you are operating your equipment is because not only will your company be sued but also the person operating the equipment. If your employees are the only people using your gear than it is important to talk to your CPA about what is best for you. Do not go LLC or INC and expect any protection otherwise. It just won't happen.

I was ready to go in LLC or INC and the CPA and attorney both said the same thing. If you are working you will get no benefit from this. They also said I needed to be making more than 50k in profit not gross income to make it worth the cost of tax preparation vs. benefit of tax sheltering and breaks.
 

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One thing to think about when you are set up as an S corp , higher cost for insurance, tax prep, auto loans. but you do save money on the "profit" which is taxed at a lower rate.
 
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