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> WOT - Going legit? Advise for doing a sole proprietorship, Why does it cost so damn much?
Dr Evil
post Jun 23 2009, 03:28 PM
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I am looking into doing a sole proprietorship and the cost to start one is more than I expected (about $400). Anyone have resources to offer or info?
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r_towle
post Jun 23 2009, 04:33 PM
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The legal status of a sole proprietor is useless.
Any business with you as the 100% shareholder is not a legal entity that is secure, even if you split it with your wife, its still not decent protection..thus not worth the fees.

To obtain an EIN number for tax purposes, you need a business.
Go to the town hall and ask for the registration forms...its that and the IRS form for the EIN number.

Rich
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