Business Formation
Choosing the right structure and filing it correctly the first time avoids expensive fixes later.
Anyone starting a business who wants to understand their structure, not just click through a template service.
Business formation attorneys commonly charge $500-$2,000 for work that's often template-driven once you understand your options.
An LLC is typically simpler to set up and maintain, while an S-corp election can reduce self-employment tax once profits reach a meaningful level - the right choice depends on your expected income and how you plan to pay yourself.
No - LLC formation is largely a state filing process that most people can complete themselves once they understand the required documents. Bringing in a lawyer tends to matter more once co-founders, investors, or complex agreements are involved.
An EIN is a federal tax ID number for your business, free to obtain directly from the IRS. A business license is a separate local or state authorization to operate, and requirements vary by location and industry.
Even single-owner LLCs benefit from one, but it becomes essential once there's more than one owner - it's what governs ownership splits, decision-making, and what happens if a co-founder leaves.