I need a business consultation but not sure who to ask or where to look

[dal]

Hello, I'm looking for a remote consultation for opening a new sole member business in Los Angeles, California. The business is home renovation project management and home inspections. I've done these for other companies in the past, but now I am going into business for myself.

I had a LLC several years ago, but I didn't really use it to its full potential, and I had LegalZoom managing it, but I didn't see a lot of value out of it (my fault).

Who do I ask? Google business consultants? Would a corporate attorney be better? Is there some well-known guide or company I'm overlooking?

Basically, I'm just looking to have some questions answered. Here they are:

1. Is there a state which is most optimal for opening a business (e.g. Wyoming)? Is it possible considering I’m in LA? I’ve heard of people doing this for certain benefits such as avoiding the annual CA franchise tax fee. PO box / virtual mailbox location in this case?
2. How do I physically open the business and register it? Is there a state website?
3. Tax benefits? Write-off limitations?
4. Healthcare?
5. Do I need a managing agent like LegalZoom?
6. How does payroll work? For example, is there a benefit to paying myself out of the business checking account?
7. How do I protect my home & assets from lawsuits? Can I tank the company and have it absorb any penalties & costs?
8. What is the best company type for my purposes (DBA, LLC, S Corp, etc.)?

 

[jordondop]

@dal You could talk to a local office if SCORE or the SBDC. Both are free paid for by tax payers. Location at SBA.Gov

 

[cchloetthompson]

@jordondop Oh yes! How did I forget these resourses?

They can help with just about everything,.

 

[dal]

@jordondop Thank you

 

[cchloetthompson]

@dal Speak with a California business attorney for the best answers to your questions.

As for out-of-state formation, I believe CA requires a business that operates in the state to pay the same fees/taxes whether they are formed out of state or within CA. So unless you will be operating in more than one state the attorney will likely advise you to form in CA.

For payroll, we use a 3rd party processor. It is much, much easier for us and worth the minor extra cost to have them managing withholdings, payments and filings. If you do it yourself, open an additional account in your business bank only for payroll and move the money into it before paying it out. As a matter of fact, no matter if you do it or have a 3rd party do it, open a separate payroll account and fund it when payroll is run.

As for point 8, a DBA (also known as a fictitious business name) can be filed with the state no matter the official structure. We have several LLC's, and on one we (filed and) use a DBA.

For the $1000 - $1500 to have an attorney help you structure, it is worth it.

 

[dal]

@cchloetthompson Thank you!

 

[cchloetthompson]

@dal Sorry it wasn't much, but you are certainly welcome.