Is it really necessary to hire a lawyer to set up a single person S corp? Why? by @R44D
Answer by Raad Ahmed:
I agree with Aaron and Jennifer. It’s not per se necessary to hire a lawyer to form an S-Corp, but it’s the smart thing to do. The IRS has a bunch of criteria that need to be met in order to qualify as an S-Corp. A lawyer would be able to give advice about these criteria and how to comply and remain compliant. Also, different states treat S-Corps differently and therefore, you should talk to a legal professional about your state’s specific laws and regulations.
To form an S-Corp, there are various documents you may need to file and/or maintain such as articles of incorporation, stock certificates, and shareholder agreements. Relying on forms you find on the internet for these types of documents is not a great idea because whatever you may find on the web is generic and not tailored to your business. A lawyer would be able to draft these documents for you in a manner that is in your and your company’s best interests.
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