LLC: Attorney, CPA or Neither?

[Dinesh T.]

I know I can form an LLC by myself by just applying online. I was offered paid service by both a CPA as well as an attorney. Should I hire a professional, if yes would than be a CPA or an attorney and please tell me why.

-Dinesh.

[Linda Weygant]

In Colorado, a CPA can set up a business entity for you with all of the entities (Secretary of State, IRS, State, etc), but they cannot prepare an Operating Agreement for you.  Preparing an operating agreement for an entity that the CPA is not a member of is technically practicing law without a license.  Anybody, however, can create their own Operating Agreement for an organization they are a member of.  

I've had clients use websites like rocketlawyer to prepare their own single member LLC Operating Agreement and bring that to me. I then use that to register them with the Secretary of State, the IRS and the State. I have no idea and do not offer an opinion on whether that type of Operating Agreement would hold up in court, but to date they have been fine for banking and loan purposes.

If you're thinking about a business with another person, I recommend seeing a lawyer to draft the Operating Agreement or Articles of Incorporation.