Using an Online Company To Form Your Business

You’ve decided that it is time to form your business by using an online Company.
Good Decision.

Better still, you don’t even have to leave your computer!

Forming Your Own Business online is much easier then it used to be and can be a fraction of the cost of using an attorney.
The type of Business Formation you choose is of utmost importance.  Look for a good Legal Document Services Company online.
It is very important that you do some research before you decide on the type of structure.

Originally when I formed my new business I talked with some friends and they suggested that I just form a proprietorship.  I listened to them and originally organized my business as a proprietorship.  In order to do this I registered a fictitious name with my state and used the name as a DBA (Doing Business As), opened a bank account in the name of the DBA and began to build and/or operate a business.  A proprietorship may be the right choice for your business.  However, after research, I decided that it was not the correct formation for mine and formed a LLC (Limited Liability Company).  Rather than use an attorney I decided to look online for a Legal Document Services Firm  that provided me with an Education Center where I could do my research and Services that provided the filing of all of the necessary documents.  I wanted a large credible company to handle these filings for me because I wanted to make sure that everything would be accomplished properly.  I found one. They provided an initial, risk free, application form to fill out so they would be able to get all of the pertinent information needed  to properly file the registration application for my company.  They offered various packages to choose from in order to complete the task.  The expense associated with the filing had to do with how fast I needed the filing completed and delivered and how many different things I wanted to include in the package.  The expense of filing was very economical considering all of the tasks they performed for me.  Of course, you can look for do-it-yourself forms or a kit if you wish and try to do all of this by yourself.  Beware, generally just purchasing the application or form is not the only expense.  You should know up front about all fees involved in the filing and the time element for final approval and delivery.

There are various things that you must consider before you file.  You must decide if you want to organize your company as a proprietorship, partnership, or a corporation.  You need a company that can direct you to the information you need in order to make this decision.

Personal Liability is a very important thing to consider when you are forming your company.  This is one of the main reasons I picked the LLC type of formation for my company.  The Document Service Company I chose was not a Legal Firm with attorneys but the company was created by expert attorneys.  In addition, they have a free attorney referral service on their site, if you think you need one, or you can contact your own attorney. You probably will need to open a bank account in the name of the New Business Entity.  Now-a-days many banks will not allow certain new business accounts and want certain documentation.  Make sure that the firm you chose delivers your documents in the form acceptable to your bank.
This will make opening a new company account with the bank a simple task.
There are certain tax ramifications relating to the type of entity you decide to form.  You may want to discuss this with your accountant or do your own research.  You will probably need Record Keeping Software for your business. This was included in the package I chose for my business.
You can use a reputable company which will keep you advised of future filings that are needed for your company.  Since they have your company’s information they are able to stay on top of required filings for your company.  I personally was so happy and satisfied with my experience I became an Affiliate of the Company that I used. This company has helped me immensely and influenced me to help more people like myself benefit from their services.

Finally, make sure the company offers a 100% “Satisfaction Guaranty”.  You want to choose a company that stands behind their product or service.

This article was written by Michael Goodman, Manager of Worldprofit Associates LLC, owner and operator of this website.

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Filed under: Business Formation

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