Form an LLC for "free" this week

[Blaine Moore]

With all the questions I've been seeing over the past few months about whether or not to form an LLC or other type of corporation, I thought I'd share this deal that I just saw:

Free LLC or Incorporation Service from MyCorporation | Cash Money Life

Patrick from Cash Money Life pointed out that MyCorporation (which is from the company that creates the QuickBooks software) is giving away their help in incorporating your business this week.

You will still have to pay any filing fees to your state (I'm assuming that this is US only but I haven't actually checked) but they will waive their usual $149 fee for helping you get all the right forms and put your paperwork together.

I never bothered to create an LLC when I was just blogging, but as soon as I started to sell my own products I wanted the additional protection so it might be something that you want to look into.

I formed Run to Win, LLC a little over a year ago, and can say that even $149 for help doing everything is worthwhile, so getting that part free is good. I used a local attorney to help me out and thankfully got a good rate out of her, since she normally charges about $300 per hour.

More details at the link above.

[Patrick]

Hi Blaine!

Just found these forums through the trackback your link sent to my site.

I also have an LLC, and I set it up for two main reasons:

1. certain legal protections.
2. taxes and other financial benefits (business bank account, set up a solo 401k to shelter self employment income and pay fewer taxes now, etc.).

If any of you are thinking about incorporating or forming a legal business entity beyond a sole proprietorship, I recommend doing your research. There are some definite benefits. Here is some more good info about selecting a self employed business entity: 6 Types of Business Entities to Consider for Your Blogging Business

If you choose to set up an LLC or other business entity, it is also important to separate your business and personal income for legal reasons (this also gives you more protection).

Note: The links in my article are aff links, but I don't get credit for any free services - just those that are paid.

[Blaine Moore]

Yeah, as I mention in most of the posts about whether or not to form a business but failed to here, separating your finances is a must or else it becomes ridiculously easy to "pierce the corporate veil" (plus it makes tax time easier, which is usually the more immediate and useful concern.)

Thanks for mentioning that!

[tmarek]

True. If you are planning on building a business around blogging, do it correctly. Keep your personal and business finances separate, just so you don't run into a problem down the line.

[Patrick]

Blaine - very true. Tax time will be much easier this year because my business and personal finances are completely separated. I set up a business checking and savings account and have business credit cards that I do all my business related spending. Separate accounts will also make it easier to claim expenses if I paid for them with my business account (the credit card tracks everything).

[Patrick]

In case anyone else is considering this, MyCorporation has extended the offer through the end of December (I believe they are trying to establish a foothold in the legal market and take some traffic away from Legal Zoom). Anyway, if you want free assistance filing an LLC or corp, you know where to get it.