Best of both worlds... LLC. Fall through taxation, but offers protection too.
Craig > -----Original Message----- > From: discuss-boun...@lists.osgeo.org [mailto:discuss-boun...@lists.osgeo.org] > On Behalf Of Miles Fidelman > Sent: Monday, September 14, 2009 5:23 PM > To: OSGeo Discussions > Subject: Re: [OSGeo-Discuss] RE: Insurance for contractors? > > 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 > > _______________________________________________ > Discuss mailing list > Discuss@lists.osgeo.org > http://lists.osgeo.org/mailman/listinfo/discuss _______________________________________________ Discuss mailing list Discuss@lists.osgeo.org http://lists.osgeo.org/mailman/listinfo/discuss