Originally posted by griffith jones:
Frank:
Been down this road myself; was incorporated as a "S" Corp in California for 9 years ...
Lots of paperwork and 2 sets of tax returns for an S Corp; C Corp is considerably more complicated, and probably not worth it for a small consultancy. LLC is simplest of all, and has most of the benefits of an S Corp, and you don't need a separate return for it, as far as I know.
Check your local regulations, but there is usually no license needed, beyond what you need to set up any small business, i.e., filing for a business name, fed tax ID, etc.
In California, there are internet sites that will set up an LLC or S Corp for around $400, including filing fees; you pay $800/yearly minimum to the state in tax. For a S corp figure $1000/yearly for a tax accountant. You'll probably want a payroll service too, such as Paychex or EDP. Another $400-600 yearly there.
Be advised that many major businesses work only with a select few vendors from a preferred list, you will have dificulty getting on this list. If you ever do get on the list, it can be a license to print money -- favored vendors are in a position to bring in their own people as a significant markup.
You'll definitely need business insurance, i.e. "Errors and Ommisions", so a talk with an insurance broker will probably be in your future.
Good Luck!
Griff Jones
BEA 8.1 Certified Administrator, IBM Certified Solution Developer For XML 1.1 and Related Technologies, SCJP, SCWCD, SCBCD, SCDJWS, SCJD, SCEA,
Oracle Certified Master Java EE 5 Enterprise Architect
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The secret of how to be miserable is to constantly expect things are going to happen the way that they are "supposed" to happen.
You can have faith, which carries the understanding that you may be disappointed. Then there's being a willfully-blind idiot, which virtually guarantees it.
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