Comments on: Why YOU Should Become a Business http://natewhitehill.com/why-you-should-become-a-business/ Business, Technology & Life in Seattle Fri, 23 Dec 2011 04:04:00 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: Kyle Lavender http://natewhitehill.com/why-you-should-become-a-business/comment-page-1/#comment-14926 Kyle Lavender Tue, 16 Oct 2007 05:08:03 +0000 http://natewhitehill.com/2007/03/26/why-you-should-become-a-business/#comment-14926 There is not a "Rule of Thumb" dollar amount to consider in order to incorporate (although it is more advisable the more money you are taking in, generally, for reasons that will soon become clear). The primary reason to form a corporation or LLC is for the limited liability protection. This means that, assuming you are operating legally through the company, then the company may be sued for any real or perceived damages, and the entity initiating the lawsuit can attack the company, and whatever assets it has. They may not, however, go beyond that and attack the personal assets of the owner(s) - house, cars, bank accounts, etc. Every business has some risk, some very minor and some very major. The limited liability protection offered by a corporation or LLC can be had for what is, for most companies, a relatively minor cost. The LLC is typically the simplest business type (less paperwork) and most flexible, but with a little initiative there can be certain advantages to be had with a C corporation S corporation. Nate - we are glad you found occasion to use our service, and it sounds like you have had success. Congratulations! Kyle J. Lavender Managing Member www.incfile.com INCFILE.COM LLC There is not a “Rule of Thumb” dollar amount to consider in order to incorporate (although it is more advisable the more money you are taking in, generally, for reasons that will soon become clear). The primary reason to form a corporation or LLC is for the limited liability protection. This means that, assuming you are operating legally through the company, then the company may be sued for any real or perceived damages, and the entity initiating the lawsuit can attack the company, and whatever assets it has. They may not, however, go beyond that and attack the personal assets of the owner(s) – house, cars, bank accounts, etc. Every business has some risk, some very minor and some very major. The limited liability protection offered by a corporation or LLC can be had for what is, for most companies, a relatively minor cost. The LLC is typically the simplest business type (less paperwork) and most flexible, but with a little initiative there can be certain advantages to be had with a C corporation S corporation.

Nate – we are glad you found occasion to use our service, and it sounds like you have had success. Congratulations!

Kyle J. Lavender
Managing Member
http://www.incfile.com
INCFILE.COM LLC

]]> By: Paul http://natewhitehill.com/why-you-should-become-a-business/comment-page-1/#comment-3012 Paul Sat, 07 Apr 2007 17:19:29 +0000 http://natewhitehill.com/2007/03/26/why-you-should-become-a-business/#comment-3012 I think the question should why you should build a business and not be in it.. I think the question should why you should build a business and not be in it..

]]> By: trailblogging » business online » Blog Archive » create an llc http://natewhitehill.com/why-you-should-become-a-business/comment-page-1/#comment-2761 trailblogging » business online » Blog Archive » create an llc Wed, 28 Mar 2007 21:41:45 +0000 http://natewhitehill.com/2007/03/26/why-you-should-become-a-business/#comment-2761 [...] Whitehill had an article yesterday about why to create an LLC. Well, first off, what is an LLC? LLC stands for Limited Liability Corporation (or Limited [...] [...] Whitehill had an article yesterday about why to create an LLC. Well, first off, what is an LLC? LLC stands for Limited Liability Corporation (or Limited [...]

]]> By: Shane http://natewhitehill.com/why-you-should-become-a-business/comment-page-1/#comment-2736 Shane Wed, 28 Mar 2007 06:28:29 +0000 http://natewhitehill.com/2007/03/26/why-you-should-become-a-business/#comment-2736 A good rule of thumb for deciding whether to incorporate is that your business is pulling in at least $200k a year. Then it's time to take a serious look at incorporating. A good rule of thumb for deciding whether to incorporate is that your business is pulling in at least $200k a year. Then it’s time to take a serious look at incorporating.

]]> By: Nate Whitehill http://natewhitehill.com/why-you-should-become-a-business/comment-page-1/#comment-2732 Nate Whitehill Wed, 28 Mar 2007 05:53:03 +0000 http://natewhitehill.com/2007/03/26/why-you-should-become-a-business/#comment-2732 Well said, Bri! Well said, Bri!

]]> By: Nate Whitehill http://natewhitehill.com/why-you-should-become-a-business/comment-page-1/#comment-2731 Nate Whitehill Wed, 28 Mar 2007 05:52:25 +0000 http://natewhitehill.com/2007/03/26/why-you-should-become-a-business/#comment-2731 If you have a business, you should register it, flat out. You will save money on taxes each year. As far as incorporating, which is different from just registering, the main reason to incorporate is if your business is getting funded by investors. If you have a business, you should register it, flat out. You will save money on taxes each year. As far as incorporating, which is different from just registering, the main reason to incorporate is if your business is getting funded by investors.

]]> By: knupNET http://natewhitehill.com/why-you-should-become-a-business/comment-page-1/#comment-2723 knupNET Wed, 28 Mar 2007 03:12:38 +0000 http://natewhitehill.com/2007/03/26/why-you-should-become-a-business/#comment-2723 At what point should a web business incorporate? Certain income level? I've played around with the idea but everytime I can't justify the cost vs. benefit. At what point should a web business incorporate? Certain income level? I’ve played around with the idea but everytime I can’t justify the cost vs. benefit.

]]> By: Jane http://natewhitehill.com/why-you-should-become-a-business/comment-page-1/#comment-2706 Jane Tue, 27 Mar 2007 15:02:06 +0000 http://natewhitehill.com/2007/03/26/why-you-should-become-a-business/#comment-2706 We just recently got LLC'ed and the process was rather painless. All in all, it took us less than 3 weeks to get all the paperwork filed and complete. I highly recommend it especially for any internet business. What sucks is that CA is one of the worst places to do it in since the fee's are so high (800)! We just recently got LLC’ed and the process was rather painless. All in all, it took us less than 3 weeks to get all the paperwork filed and complete. I highly recommend it especially for any internet business. What sucks is that CA is one of the worst places to do it in since the fee’s are so high (800)!

]]> By: Bri http://natewhitehill.com/why-you-should-become-a-business/comment-page-1/#comment-2705 Bri Tue, 27 Mar 2007 14:11:47 +0000 http://natewhitehill.com/2007/03/26/why-you-should-become-a-business/#comment-2705 If you're ever going to start a small business, you should always consider forming an LLC. There is really no reason not to. The time that it takes is not too long (it probably will take longer to find your state's form online than to fill it out). Also, many of the services that do it for you are nice, but they are by no means necessary. Most states make it easy enough to do everything on your own. Also, the expense is not too great - especially in certain states like Delaware or Nevada, and definitely worth it because of looking professional to customers as well as protecting you from liability should anything like that happen. There is really no substantial reason not to! If you’re ever going to start a small business, you should always consider forming an LLC. There is really no reason not to. The time that it takes is not too long (it probably will take longer to find your state’s form online than to fill it out). Also, many of the services that do it for you are nice, but they are by no means necessary. Most states make it easy enough to do everything on your own. Also, the expense is not too great – especially in certain states like Delaware or Nevada, and definitely worth it because of looking professional to customers as well as protecting you from liability should anything like that happen. There is really no substantial reason not to!

]]> By: Nate Whitehill http://natewhitehill.com/why-you-should-become-a-business/comment-page-1/#comment-2701 Nate Whitehill Tue, 27 Mar 2007 10:12:13 +0000 http://natewhitehill.com/2007/03/26/why-you-should-become-a-business/#comment-2701 I highly recommend getting your online business registered. You are right -- it certainly does add some degree of credibility. I have noticed that clients have taken myself more seriously once they find out our business is licensed. I highly recommend getting your online business registered. You are right — it certainly does add some degree of credibility. I have noticed that clients have taken myself more seriously once they find out our business is licensed.

]]> By: Gary Lee http://natewhitehill.com/why-you-should-become-a-business/comment-page-1/#comment-2698 Gary Lee Tue, 27 Mar 2007 07:04:43 +0000 http://natewhitehill.com/2007/03/26/why-you-should-become-a-business/#comment-2698 also . . . remember all the business licenses and state stuff you have to do. It can take a while some times. I asked my friend who just graduated law school to take a look at everything for me just to make sure i did everything right . . . also . . . remember all the business licenses and state stuff you have to do. It can take a while some times. I asked my friend who just graduated law school to take a look at everything for me just to make sure i did everything right . . .

]]> By: Frank http://natewhitehill.com/why-you-should-become-a-business/comment-page-1/#comment-2695 Frank Tue, 27 Mar 2007 06:50:33 +0000 http://natewhitehill.com/2007/03/26/why-you-should-become-a-business/#comment-2695 That's a very interesting post. It's always the practical things like this that people are interested in but there doesn't seem to be a lot of advice for, particularly for freelancers or entrepreneurs. I've been wondering lately if I started a blog network and started charging for advertising directly with small businesses, should I get a business entity together rather than just be 'me' as it were. It would certainly give some credibility to the business as well. That’s a very interesting post. It’s always the practical things like this that people are interested in but there doesn’t seem to be a lot of advice for, particularly for freelancers or entrepreneurs. I’ve been wondering lately if I started a blog network and started charging for advertising directly with small businesses, should I get a business entity together rather than just be ‘me’ as it were. It would certainly give some credibility to the business as well.

]]>