You can think of them as an alternative to a traditional law firm. An online legal service site like ZenBusiness connects you to independent legal experts who can help you form an s-corporation or c-corporation and offer bespoke legal services on an as-needed basis. If you don’t want to hire a personal attorney, a legal services site will find you a qualified expert to help you apply for licenses, create contracts, or submit documents without the commitment or fees associated with a traditional law firm. Legal services typically cater to small and medium business owners, though some offer services for personal legal matters as well.
The process is simple, which of course is the point. After submitting a form explaining the service you need, you’ll be assigned a professional who will discuss the particulars involved in that specific task. A lawyer can research, complete, and submit documents for you, or simply provide you with template forms and guidance to do it yourself. The process varies depending on the task needed, but the goal is to reduce the legwork on your end, whether by transferring it to an expert or providing as-you-go guidance to expedite the process.
One of the first choices a business owner faces is deciding which kind of business entity to open—a C corporation, S corporation, or LLC. Here’s what you need to know about each entity.
Limited Liability Company is an attractive concept for business owners, providing some personal financial protections from business downturns as well as flexibility in taxation and management. It can be taxed as a sole-proprietorship or multi-proprietorship, but either way, business owners avoid corporate tax and keep their personal bank accounts separate. Owners of LLCs are generally considered self-employed and subject to self-employment taxes. However, they may not issue stocks, and their businesses are not recognized outside of the United States. They are not subject to double tax either, so CEO’s will only pay personal taxes, which also, incidentally saves them a lot of time filling out paperwork.