Yesterday we looked at formalizing your blog as a business and creating an LLC seems to be a common choice for many well-established bloggers that I know.
Create an LLC (the cheap way)
I happened to know a lawyer who helped me through the process, but if you don’t have a $1000 ready to spend on lawyer fees you can use an online legal service like Rocket Lawyer. There are a lot of places like them, but basically, they help you to form an LLC at a much better rate.
For example, in the screenshot to the right, you will see their pricing. As you can see the total cost (for my state) comes out to $433.95, but if we take a closer look you will see that you can get it quite a bit cheaper by NOT getting some of the optional services.
The registered agent
All corporations and LLCs are required to have a registered agent – a person or business able to receive documents during normal business hours at a legal physical location within the state in which the business is registered. Since I am at my business location during regular business hours I chose to be my own registered agent and saved the fee. Some people may need this, but surely some will not.
The Tax ID (or EIN)
This one is almost a joke. Like I mentioned a few days ago you can apply for an EIN online for free. It literally is a 3-5 minute process and then you have your Tax ID. No one needs to pay $40 for this.
The Corporate Kit
This is basically just a bunch of junk (in my opinion) to get you to buy. Some people may want it, but it all can be found or purchased separately. According to their website, “The corporate kit memorializes your new business. It has all the essential tools to get your company started: embossed binder, stock certificates, sample bylaws, business forms, and more.”
If you can do without those things and happen to live in Missouri like me (each state’s filing fee is different) you can get it all done for $225 at Rocket Lawyer.
Once you have your blog business officially established, you can move to creating a blog business plan. This will help you to have a plan in place to profit from your blog. The next step is for you to register your blog as a business.