Michael P. Gerlek wrote:
* in the US, sole proprietorship is the way to go for simple one-person,
garage-based shops
Having contracted as both a sole proprietorship and a corporation, I'd
qualify that one. Sole proprietorship is easy, but.....
- you don't get quite as many tax benefits
- you open yourself up to a lot of personal liability, even with
insurance - if you have any serious assets (say a house or stock
portfolio that hasn't completely tanked), putting a corporate shell
between you and a lawsuit provides some serious protection
- you can simplify some of the paperwork by incorporating as either
Subchapter S or an LLC
Miles
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