Accountants, Have You Been tempted to Incorporate Your Clients the Fast and Inexpensive Way?
If you are an accountant, you may be tempted to find a low cost, fast and easy way to incorporate your clients. Don’t do it. Really, it is a very bad idea.
Incorporate Your Clients Fast and Cheap!
We’ve all seen the ads, and they’re tempting! Fast and cheap is convenient.
Don’t fall into a trap you’ll regret later. Build your business the right way, help your clients to build their businesses the responsible way.
In the long run, your clients will thank you.
Why Is It a Bad Idea? Why Are CPAs Tempted to Go for the Quick Fix?
Many clients will benefit tremendously when you move their more primitive business entities toward a corporation. It saves them tax dollars while allowing them to better protect their business.
You Know This!
This enables you to save your clients a lot of tax dollars while also increasing your service fees. When you save your clients dollars, it strengthens your relationship with them.
Talk about a win-win for everyone!
Here’s the downside. When you advise a client to change their business entity you are providing legal advice. What happens when you provide legal advice but you are not a lawyer? Nothing. At least nothing, most of the time. It only matters when things go wrong. When your client gets sued. When the structure of their corporation is not up to scratch. When that happens, the finger gets pointed.
If you do not want that finger pointed at you, call us.
We work with California CPAs to help them get their clients set up with the right business entity and structure to suit their business.
+1 (714) 634-4838
We are here to help you in a shame and blame free relationship. Many accountants have found us in the middle of a crisis. Some said they were afraid to come to us. They knew they had made major mistakes incorporating a client’s business.
You don’t want to admit to a client when you’ve made a mistake with their legal paperpwork, especially if you already charged them a fee!
That’s where we come in. We’re happy to help fix it without judgment. In fact, we’ll review your work for no charge and then decide together how to make it right.
We want you to succeed. If your clients are wowed with your business, then we did our job, and nothing brings us more satisfaction.
Online Incorporation Services – Don’t Be Tempted by The Dark Side
Online services get small business owners and CPAs into trouble a lot. Many calls we get are from clients who realize they are in trouble and that their business structure and their corporate records are sub-standard. Attempting to remediate things once they’re already in trouble means it’s usually too late and/or very expensive.
In this situation, when we ask, “Why did you set your business up this way,” the answer we often receive is, “That’s what our CPA advised”.
We see the same thing over and over again. The small business owner will call us in trouble after they took short cuts. We hear, “But my CPA said________,” or “My CPA did_______.”
Don’t Be That CPA
Online incorporation services provide a few forms and some limited processing services. Meanwhile, they take no responsibility for the specific set-up being ideal or even appropriate for any particular client.
“Here are the forms, enjoy – You are now on your own”
Then when the proverbial muck hits the fan, they leave your client and possibly you, on their own. Often to face expensive consequences. Read the small print. You’ll see this same setup every time.
Also, many of the bigger legal companies offer such reduced initial prices, because they charge higher rates to help clients fix problems they run into with paperwork. And they expect clients to run into paperwork trouble.
They know that complicated legal forms typically yield confusion and costly mistakes.
Handling legal documents for your client is more than irresponsible. It’s illegal. Filling out legal forms for your client is practicing law without a license, and the consequences can be catastrophic to your business. You can find yourself slapped with astronomical fees or even jail time. Some Accountants think that cutting corners is okay because they’ve done it before without consequence. That’s like opting out of fire insurance for your home because it hasn’t caught fire yet. Don’t wait for your entire practice to burn!
Call Incorporation Attorney today +1 (714) 634-4838 and well help you remediate existing set-ups, facilitate and find the best entity to match your clients’ needs.