[nycbug-talk] Getting started in Consulting

[Charles Sprickman]

On Wed, 8 Jun 2005, Francisco Reyes wrote:

> On Wed, 8 Jun 2005, swygue wrote:
>
>>> relatively cheap to form ($450 or so) and about $400 a year to keep in
>>> state/city taxes
>
> Plus whatever the accountant charges. If I recall correctly my accountant 
> charges me around $600 to do my corporate taxes. :-(
>
>> and they provide a great way to filter expenses.
>
> They also give you a level of protection against some types of "issues"... ie 
> if your get sued and they go after you, usually, they will only be able to 
> get your corp assets.

I can't speak to NY, but in NJ it cost me about $300 total to become a 
LLC.  This was a standard online package from HubCo.  From what I 
understand this gives me enough seperation between my personal finances 
and business finances.  There is very little ongoing paperwork compared to 
an S-Corp.  My accountant charges about $400 for combined personal and 
business tax filing.  The state charges $50/year for my business license.

Thanks,

Charles