Create an S-Corp in WA?

Discussion in 'Pacific Northwet - Where it's green. And wet.' started by ixab, Mar 12, 2013.

  1. ixab

    ixab just Aaron, really

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    Have any of you set up an S-Corp or LLC in Washington? :deal Care to let me know how to go about it? I'm about to contract as an MSF instructor, and it's time for me to set up a proper business to work through. I figure it's kind of a long shot, but maybe someone here knows how to do this, and can save me a couple hours of :scratch asking GooGoo and wandering around WA state websites figuring out what I need to do.

    Help is appreciated!

    -- Aaron

    :clap
    #1
  2. tedder

    tedder irregular

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    Legalzoom is your friend.

    Though.. just to receive a 1099-MISC? Hmm. Just make sure you don't commingle your funds.
    #2
  3. Beelzabob

    Beelzabob Meep Meep

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    My wife and I started a small business about 10 years ago and found it VERY valuable to get legal guidance. The gov't and taxes get painfully frustrating and protection will go a long way. Trust me, seek legal advice!

    My .02 cents.
    #3
  4. XR4EVER

    XR4EVER 919 excuses to ride!

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    I set up an LLC in Idaho about 7 years ago for my woodworking business. I went into it with total ignorance, so I started at a book store. I bought two books: Nolo's Quick LLC All you need to know about limited liability companies (3rd ed.) and Tax Smarts for Small Business which really helped explain the whole process, reasoning and accounting options. A friend of ours is a corporate lawyer and offered to file all the paperwork for me. I paid him $400, I applied for a business license and a federal tax ID #, bought business insurance and that was pretty much it. Washington probably has more hoops to jump through on the state level, but I recommend reading as much as you can first. Good luck!
    #4
  5. Hangar14

    Hangar14 FKA: BendEuroMoto

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    I had a well recommended team of lawyers set up my S corp in Oregon for Bend Euro Moto when I owned it. It was necessary since we were a dealership with 5 partners and over a million in inventory, 12 employees, ect....

    As far as yearly paperwork, not worth it for what you are doing. Not even sure an LLC would be. As far as legal protection, you will have none if anyone ever tries to prove you negligent. I get 1099's for the aviation contracting I do in Alaska. I really does not matter if you are a corp or not. Getting a tax ID number is easy, and will allow certain advantages for buying things tax free (as in for resale) but I doubt any of that will apply to what you are doing.
    #5
  6. Cap'n Ron

    Cap'n Ron The Devil's Advocate

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    ^^^ What he said. :deal
    #6
  7. HellsAlien

    HellsAlien a has-been that never-was

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    Yeah, what hanger said.
    Why do you think you need an S corp for a part-time job? In my experience the costs of taxes and accounting will negate a lot of your p/t earnings. There is a rough crossover point taxwise between Scorp and sole propieter, but if there are no significant expenses then I doubt an Scorp would offer any advantages taxwise. This part is all accounting/accountant questions, ask one who specializes in small buisness accounts.

    If you are concerned about the liability issues of instructing someone riding motorcycles, suggest you start with the policy and coverage the MSF has in place for themselves and a copy of the liabiility release (if any) that students are required to sign before receiving MSF services. Read that, if any questions, ask MSF first. Beyond that, you will need to discuss the risk/cost issues with liability lawyer (mucho $$.)

    I have both an S corp and a sole propietership for different risky buisnesses. The protections I have in place have nothing to do with the form of the buisness and everything to do with the operations, expectations I have in place, robust liability/indemmification releases, and a seven -figure insurance policy in place, so I know someone will come to bat for me as there is a lot of their dough on the line. An S corp does none of that for me, it is all separate.

    After all that, I must say that I have not heard of any bad things happening to MSF instructors, other than ones who weren't very good at it being asked to leave; MSF has been around the block a few times without falling down much.
    #7