Starting A Corporation

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My wife and I want to start a corporation so that we can buy and sell real estate under that corporation. How do we start this process of establilshing a corporation? Do we need forms to fill out and submit to IRS? Your help is appreciated.

Thanks smile

Comments(4)

  • SolutionsKid7th October, 2003

    Depends on what state you live in.

    There are a couple great websites out there for starting a corporation. They will walk you through every step and let you know what needs to be done.

    ****Must Reach Senior Investor status before posting URL's***
    ****Must Reach Senior Investor status before posting URL's***

    There is great info here that you should read first: ****Must Reach Senior Investor status before posting URL's***

    You are going to look at anywhere from $200 - $600 to form the corp. You can do it by yourself for less, but for the first one, I would recommend you do it through someone who really knows their stuff. Because if not done right, it can be a nasty beast and come back at you.

    The Solutions Kid
    [addsig]

  • concrete7th October, 2003

    I'm not a lawyer, but I've done this . I did one of those "do it yourself" kits (Make sure it's approved for your state). Saved a bunch of money. As the company grew, I became a little apprehensive, and had a lawyer look everything over, mainly to be sure I was keeping the minutes properly, etc., just doing it right. Everything passed muster, and I now take it in every year, just to have someone else check behind me.

    It's easy to get all the required documents right off the IRS site, but it would have been better for me had I gotten with a good CPA from the start. I missed one document that needed to be filed. No big deal, small penalty, but should have been avoided. So that is my second piece of advice, get a good CPA. There is a lot ot consider like what kind of corporation (S or C) and it's difficult to determine what you need without knowing all the tax implications. And you can't just change with a snap of the finger.

    Good luck!
    Terry

  • SolutionsKid7th October, 2003

    Shoot, I keep forgetting about the posting of websites.

    Drop me a private message and I will get those sites to you.

    The Solutions Kid
    [addsig]

  • curtisjj7th October, 2003

    after you get your corporation started, how will you go about buying property?

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