Online Business Advisor Ebay
If I want to start a Corporation for Online Selling, what should I do? How much would it cost? ?
I am looking to start a corporation selling wholesale items on EBay. Currently it is me and a partner. How much would it cost to start one? I live in Ohio, and I’m wondering if I should get a lawyer or business advisor and how much they would cost as well. Should I start an LLC or S Corp, or something else? Any information about this would be greatly appreciated.
You can use a service like theNevadaCompany.com to incorporate where the privacy and security laws are a little stricter than Ohio. The S Corp is an extension of yourself, allowing you added benefits for write offs on expenses like car, gas, square footage used for office space in your house, etc. Your CPA can explain more. The LLC or C Corp (both essentially the same structure) is an actual corporation that will be taxed a little higher ultimately but may work better for your partnership arrangement. Tell your CPA what you want to achieve and they can make recommendations on the best structure for your goals. DON’T do something like this without a CPA. The incorporation can be done online in only a couple days for several hundred dollars. They will also file with your state to get a “Letter of Good Standing” with Ohio so you an open bank accounts more easily.
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