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Ask HN: Best Info for Running own C Corporation

5 points by buggy_code 17y ago

What is the best resource for running a 1 person C corporation? (I'd like to know the rules / regulations / prevent myself from doing things that cause silly mistakes or are blatantly illegal). [I suspect that even if I own 100% of the company, there are still certain regulations.]

davidw 17y ago
nolo.com has some books on that sort of subject. Since they have a lot of them, the best thing to do is go to your library, look through a bunch, and see which one is best for you, and then consider buying it.
andrewljohnson 17y ago
All you need to know is get a lawyer.
- davidw 17y ago
  You'll get more out of having a lawyer, and know more about what you're being advised to do if you get informed first.
drhowarddrfine 17y ago
A C corporation, involving one person, probably doesn't make sense. You probably want a S corp or LLC. In any case, a lawyer is good but I've always gotten my advice from my accountant. The lawyer knows the rules. The accountant knows how the rules affect your money.
- jon_dahl 17y ago
  A S-Corp is easier to convert to a C-Corp, so if you want to go the VC/IPO direction, but want to start simpler, you might want to start with an S-Corp. http://www.feld.com/wp/archives/2006/02/s-corps-vs-llcs.html http://www.feld.com/wp/archives/2006/02/s-corps-vs-llcs.html But an LLC is more flexible and generally simpler to start. If you're looking to build a small profitable company, I'd go LLC. If you're looking for VC money today, go C-Corp. If you're looking to build a profitable company but want VC money in a few years, consider an S-Corp. Talk to a lawyer and accountant, of course.
gtani 17y ago
disclaimer: dated materials, tax code changes every year, I don't know anything about you or your business, IANAL, yadda yadda http://www.mbbp.com/resources/business/entity.html http://www.mbbp.com/resources/business/entity.html http://www.themoneyalert.com/Corp-Entity-Table.html http://www.themoneyalert.com/Corp-Entity-Table.html http://www.themoneyalert.com/incorporating.html http://www.themoneyalert.com/incorporating.html http://www.themoneyalert.com/businesstypesofownership.html http://www.themoneyalert.com/businesstypesofownership.html
DenisM 17y ago
I suggest this book as a background on different corp types and in general the corporate goverance: http://www.amazon.com/Corporations-Examples-Explanations/dp/0735556660 http://www.amazon.com/Corporations-Examples-Explanations/dp/... you don't have to read the whole book - a few first chapters will suffice.

5 points by buggy_code 17y ago

davidw 17y ago

nolo.com has some books on that sort of subject. Since they have a lot of them, the best thing to do is go to your library, look through a bunch, and see which one is best for you, and then consider buying it.

andrewljohnson 17y ago

All you need to know is get a lawyer.

davidw 17y ago
You'll get more out of having a lawyer, and know more about what you're being advised to do if you get informed first.

drhowarddrfine 17y ago

A C corporation, involving one person, probably doesn't make sense. You probably want a S corp or LLC. In any case, a lawyer is good but I've always gotten my advice from my accountant. The lawyer knows the rules. The accountant knows how the rules affect your money.

jon_dahl 17y ago
A S-Corp is easier to convert to a C-Corp, so if you want to go the VC/IPO direction, but want to start simpler, you might want to start with an S-Corp. http://www.feld.com/wp/archives/2006/02/s-corps-vs-llcs.html http://www.feld.com/wp/archives/2006/02/s-corps-vs-llcs.html But an LLC is more flexible and generally simpler to start. If you're looking to build a small profitable company, I'd go LLC. If you're looking for VC money today, go C-Corp. If you're looking to build a profitable company but want VC money in a few years, consider an S-Corp. Talk to a lawyer and accountant, of course.

gtani 17y ago

disclaimer: dated materials, tax code changes every year, I don't know anything about you or your business, IANAL, yadda yadda http://www.mbbp.com/resources/business/entity.html http://www.mbbp.com/resources/business/entity.html http://www.themoneyalert.com/Corp-Entity-Table.html http://www.themoneyalert.com/Corp-Entity-Table.html http://www.themoneyalert.com/incorporating.html http://www.themoneyalert.com/incorporating.html http://www.themoneyalert.com/businesstypesofownership.html http://www.themoneyalert.com/businesstypesofownership.html

DenisM 17y ago

I suggest this book as a background on different corp types and in general the corporate goverance: http://www.amazon.com/Corporations-Examples-Explanations/dp/0735556660 http://www.amazon.com/Corporations-Examples-Explanations/dp/... you don't have to read the whole book - a few first chapters will suffice.