Is it really necessary to hire a lawyer to set up a single person S corp? Why?

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.

My website LawTrades has pre-vetted attorneys who have vast experience in helping people incorporate their small businesses and startups as S-Corps and other types of corporate entities. Our services are cost-effective and specifically designed to help entrepreneurs. Contact us today for a free consultation and no-obligation price quote. Good luck!

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