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S corporation

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TC

Thread Starter
Elite Member
Gold Supporting Member
Joined
Jan 31, 2002
Professional Status
Certified Residential Appraiser
State
Pennsylvania
My wife has been doing IC work for the last few years. Her main client wants her to incorporate for tax reasons. My accountant sent her to an attorney that wants 1500 bucks to do it. Is that reasonable?

TC
 

Mr Rex

Elite Member
Joined
Jan 12, 2004
Professional Status
Certified Residential Appraiser
State
North Carolina
TC thats high. You can do it yourself in most states. If I remember correctly my guy charged $750 and he is the high dollar guy around here. Thank god he's one of my clients, and understands fees...
 

Abester

Senior Member
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Jun 12, 2003
Professional Status
Certified General Appraiser
State
Florida
$90 the last time I looked (for Indiana) if you fill out the forms yourself.
 

NC Appraising

Senior Member
Joined
Apr 28, 2006
Professional Status
Certified Residential Appraiser
State
North Carolina
I agree with Rex, do it yourself. In my State all of the forms are online, and you can go to IRS.gov to get the form to declare to become an S-CORP.
Here is form 2553 to elect to become an S-Corp.

OR

Give this a try legalzoom.com it starts at +/-$120.00.

Good Luck,

Steve
 

TC

Thread Starter
Elite Member
Gold Supporting Member
Joined
Jan 31, 2002
Professional Status
Certified Residential Appraiser
State
Pennsylvania
Thanks for the info, going to keep looking locally and on the net.

TC
 

Scott Kibler

Elite Member
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Oct 7, 2003
Professional Status
Certified Residential Appraiser
State
Illinois
I incorporated as an S Corp in 2001 or '02. I believe my ambulance chaser charged me $500.
 

larryellis

Sophomore Member
Joined
Aug 14, 2006
Professional Status
Certified Residential Appraiser
State
New York
smallbiz.com

Recently i formed an S-corp, and the cost was $340 through smallbiz.com ---That included the expidited service and business seal, and corporate stock. All was sent to me within 1 week.
 

Elliott

Elite Member
Joined
Apr 23, 2002
Professional Status
Certified General Appraiser
State
Oregon
So why a S-corp or LLC? I've always been told any attorney
worth his salt can pierce the veil of liability. I can appreciate
you can travel to some distant city to have your annual meeting,
but that doesn't seem a very good reason.
 

Mr Rex

Elite Member
Joined
Jan 12, 2004
Professional Status
Certified Residential Appraiser
State
North Carolina
Its as much for Tax advantages as it is for protection from litigation. Thats why a good attorney will typically tell you to consult a CPA before choosing one or the other.
 
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