I figure a lot of you are probably independent contractors so I have a couple quick OT questions…
I currently work full-time in a company as W2 employee, but will be picking up side contract work. I’d like to become incorporated to avoid 1099 implications and to have some basic liability asset protection.
I see that you can file to register to become incorporated online.
There seems to be numerous sites that allow you to apply for becoming incorporated. Are any better than others? is there something to look out for when doing it online that could be a ‘gotcha’ that screws me?
Is just setting up the most basic S-Corp fine (I don’t plan to have employees or plan to be doing a lot of work out of state.) The first google hit for applying shows some of the packages http://www.incorporate.com/choosing_incorporation_packages.html Is the basic $99 package fine? (Does it protect me enough from someone taking my house if they tried to sue?)
Approximately how long does it take for everything to go through? I’d like to start doing work for someone in a couple of weeks and of course would want the checks paid out to my company name I come up with. (Worse case, I’ll have him pay me at a later date rather than weekly until the name gets registered. I’m just hoping this doesn’t take a long time to process.)
Thanks for any advice.