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Startup Legal Setup Guide

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Re: Startup Legal Setup Guide

#21

Post by justinlardinois »

howsta wrote: post #19
justinlardinois wrote: post #18

Earlier quoted context omitted.

Now I'm kinda curious, especially since you emphasize the cloneable part: what makes this better than a Google Sheet?

For starters, 1) File attachments 2) Better mobile UI (Airtable's database records can be displayed as cards on touch devices, whereas a traditional spreadsheet is always a 2d grid). 3) Interactive fields like checkboxes, dropdowns, etc. 4) Ability to expand records into a form detail view for better readability of long text, etc.

Sheets does have #3.

Re: Startup Legal Setup Guide

#22

Post by kchoudhu »

hundt wrote: post #20
patio11 wrote: post #13

Some day I'm going to write about the boring backoffice mechanics for folks who are doing business on the Internet but do not expect to ride the startup trajectory. In the meanwhile: LLC incorporation. You'll almost certainly pick an LLC as a solo founder because the costs are lower, the protections are roughly equivalent, and the pass-through nature of the business makes your tax planning easier. You'll make your LL…

> You will pay taxes anywhere your business has an economic nexus. For almost all of you, this will be "where you do the work that earns the money." Importantly, this is not not not not not where your customers are [...] This seems to be a common belief among entrepreneurs, but all the evidence I have found (and my accountant) point to it not being true, at least not in all states. For example, here is a page from Ca…

If you're registered in Nevada or Wyoming, does UDITPA apply? Those states haven't enacted the rule.

http://www.uniformlaws.org/Act.aspx?title=Division%20of%20In...

Re: Startup Legal Setup Guide

#23

Post by hundt »

kchoudhu wrote: post #22
hundt wrote: post #20

Earlier quoted context omitted.

> You will pay taxes anywhere your business has an economic nexus. For almost all of you, this will be "where you do the work that earns the money." Importantly, this is not not not not not where your customers are [...] This seems to be a common belief among entrepreneurs, but all the evidence I have found (and my accountant) point to it not being true, at least not in all states. For example, here is a page from Ca…

If you're registered in Nevada or Wyoming, does UDITPA apply? Those states haven't enacted the rule. http://www.uniformlaws.org/Act.aspx?title=Division%20of%20In...

I am not any kind of lawyer, but my understanding is that each state follows its own rules and does not defer to the rules of any other state just because you live, work, or registered your business there. So for the states that follow UDITPA, they will apportion income to themselves, and assess the resulting taxes, according to UDIPTA rules regardless of what other rules your business might be subject to in other states.

But, again, I am far from an authority on this topic, so don't take my word for it, and if you find out a way to find out for sure please let me know :)

Re: Startup Legal Setup Guide

#24

Post by nihonde »

bpchaps wrote: post #15
nihonde wrote: post #12

Earlier quoted context omitted.

Why don't I find it useful? "Find legal counsel" and "Comply with State-Specific Regulations" are actual line items on your checklist. Your checklist can be reduced to one line item: hire someone who knows what they're doing. It wouldn't bother me if you were simply sharing your experience in setting up a company, but this article is presented as advice wrapped in a thinly-veiled promotion of your product (and some l…

Agreed with rpgmaker. My experience with the law (IANAL) is that it's sometimes just easier to pull up the books, read the relevant portions yourself, then confirm it with your lawyer for some quick answers. This is what I was doing before having a lawyer and it worked just fine, but having a validation source saved me many, many hours. Simply a hiring a lawyer and somewhat blindly trusting them sounds like poor advi…

I said: "hire someone who knows what they're doing". I didn't say "blindly trust someone who holds themselves out as an expert and don't do any homework yourself". In fact, you said you hired an expert to validate your findings, which is exactly consistent with my advice.

Re: Startup Legal Setup Guide

#25

Post by nihonde »

rpgmaker wrote: post #14
nihonde wrote: post #12

Earlier quoted context omitted.

Why don't I find it useful? "Find legal counsel" and "Comply with State-Specific Regulations" are actual line items on your checklist. Your checklist can be reduced to one line item: hire someone who knows what they're doing. It wouldn't bother me if you were simply sharing your experience in setting up a company, but this article is presented as advice wrapped in a thinly-veiled promotion of your product (and some l…

That's very unfair. The author took the time to share his knowledge about legal issues surrounding startups and, as is customary when legal matters are discussed, he provided a disclaimer to avoid personal liability but that doesn't mean the article is inaccurate. You won't find anyone offering free legal services on a Medium post.

As I said, I have no problem with a post about "here's what happened to me and how I dealt with it". In this case, the OP is promoting a web-based spreadsheet tool and essentially advertising for a number of lawyers and firms.

Re: Startup Legal Setup Guide

#26

Post by [deleted] »

patio11 wrote: post #13

Some day I'm going to write about the boring backoffice mechanics for folks who are doing business on the Internet but do not expect to ride the startup trajectory. In the meanwhile: LLC incorporation. You'll almost certainly pick an LLC as a solo founder because the costs are lower, the protections are roughly equivalent, and the pass-through nature of the business makes your tax planning easier. You'll make your LL…

[deleted]
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