Summary of Reddit Comments on Stripe Atlas

Overview of Stripe Atlas

• Pros:
  • Easy to get started with a simple and straightforward process.
  • Provides value especially for those who understand what they are doing.
  • Offers partner perks worth thousands of dollars.
• Cons:
  • Issues with outdated information and documents that may need amending.
  • Can be basic and cheap for a reason, leading to potential pitfalls.
  • Some users experienced challenges with their bank accounts and end-to-end support for company incorporation.

Comparison with Clerky

• Some users preferred Clerky over Stripe Atlas due to a more pleasant experience and better support for setting up bank accounts and allotting equity.

Recommendations and Tips

• Legal Assistance: It is advisable to get legal assistance early on to avoid issues later.
• Different Entity Types: Consider LLC for lower tax and accounting requirements, C Corp for tech businesses and fundraising.
• International Users: Some users found Stripe Atlas helpful for avoiding issues with suspended accounts for non-residents of the US and England.

Other Incorporation Services

• Doola: Some users had negative experiences with slow processes and repeated requests for money.
• FileYourFile: Users inquired about this service for LLC incorporation without specific feedback available.

Post-Incorporation Maintenance

• Users asked about maintenance costs, types of taxes, bookkeeping requirements, and how to determine the forms needed to be filled post-incorporation.

Bank Account and Taxes

• Questions were raised on creating a US bank account, filing taxes, providing proof of address, and dealing with sales tax, particularly for non-US residents using Stripe Atlas.

Miscellaneous Information

• Delaware Taxes: Expect annual fees including franchise taxes and federal/state taxes, along with any other applicable taxes and fees for your business operation.
• Stripe Payments Restrictions: Stripe Atlas might be more lenient in filling out forms compared to Stripe Payments, which restricts business types deemed too risky.

Additional Advice

• Lawyer Assistance: Hiring a proper startup lawyer could be beneficial for handling complicated tax issues and other post-incorporation challenges.
• Research and Verification: It is recommended to verify legal requirements and conduct thorough research before using Stripe Atlas or similar services to avoid legal compliance issues.

The overall consensus indicates that Stripe Atlas is a convenient option for company incorporation, especially for those knowledgeable about the process and potential challenges. However, some users preferred alternatives like Clerky, and emphasized the importance of legal assistance and understanding tax implications, especially for non-US residents.