Creating a business entity is dead easy. There are tons of resources to help you incorporate and get an IRS tax ID. But what happens next is more difficult. Annual filings, start-up costs, recordkeeping, bank accounts, and advisors. Sometimes businesses are created to get tax benefits that just never come. Incorporating doesn’t mean tax savings, otherwise everyone would do it. It’s important to remember that what takes a few minutes to create can take months of work and thousands of dollars to unwind. The IRS can make you file and send you penalties, even if you don’t have any activity. Our recommendation is: Don’t create a business, unless you need a business.