FYI: In some states professionals are restricted from forming LLCs or corporations. The law requires that you are personally liable for your work.
In some states professionals are only allowed to form special LLCs or corporations. This may only apply to licensed professionals at this time, but as the line between licensed professions and other professions blurs this may become a more foggy issue. Landon Office Phone Number: (209) 946-0268 Cell Phone Number: (209) 992-0658 -----Original Message----- From: [email protected] [mailto:[email protected]] 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 [email protected] http://lists.osgeo.org/mailman/listinfo/discuss Warning: Information provided via electronic media is not guaranteed against defects including translation and transmission errors. If the reader is not the intended recipient, you are hereby notified that any dissemination, distribution or copying of this communication is strictly prohibited. If you have received this information in error, please notify the sender immediately. _______________________________________________ Discuss mailing list [email protected] http://lists.osgeo.org/mailman/listinfo/discuss
