I am estimating the total amount I need to spend to get things started the right way, but I can't figure out how much I should allocate for accounting and legal services.
My startup will be incorporated in the USA as a LLC and I am applying for seed funding from an angel investor.
So, what should my budget be for accounting and legal fees?
These numbers could be all over the place depending on the accountant or law firm you work with to get the drafted. Get recommendations from local companies, your chamber of commerce and interview prospective lawyer/accountants first to find a good fit. We talked to a couple attorneys first before we felt comfortable that someone actually understood our business, and could provide adequate guidance and assistance to us now and into the future. Then used a family friend for a CPA that we are now outgrowing.
For your purposes, I would get estimates from local companies. When working on getting capital and working with investors having actual resources and quotes are going to be much better then referencing a forum thread ;)
I think a great way to allocate a reliable number is to contact a few firms or individuals that you would actually use and come up with a median price - then add 20%.
It really would depend a great deal on what type of business you are starting. For example, if you are developing software, the fees will tend to be a bit higher due to the specialized legal requirements. Not much, I wouldn't think with so much information publicly available but somewhat higher. Consider if you will (or your angels will require) patent app, search or other IP due diligence and perfection of your rights.
On the flip side, if you are selling a product that does not require any regulatory approval, it should be very inexpensive.
Unfortunately, without knowing your sector, I cannot be too helpful other than to provide considerations.