From: Stephan Barr [mailto:[email protected]] On Behalf Of lists Subject: RE: Incorporate, LLC, or ???
At least in Missouri, when you become an LLC, your personal assets are separated from your LLC assets and aren't legally available for suit actions. That's the reason I did it. If you personally did the work and screwed up, I can sue you personally. LLC or not, I can come get you and your stuff. The LLC doesn't do the work, you do. A good and or aggressive lawyer can get your personal stuff regardless of LLC, Sub Chapter S or C Corp status. Webster _____ From: Webster [mailto:[email protected]] Subject: RE: Incorporate, LLC, or ??? From: Stephan Barr [mailto:[email protected]] On Behalf Of lists Subject: RE: Incorporate, LLC, or ??? My accountant tells me the deductions are the same/similar as LLC as sole proprietorship are same/similar in Missouri. So what is the point of going the LLC route? If you take out a loan, you sign personally to guarantee the loan. If you take out a lease, you will sign personally to guarantee the lease. Unless you have a lot of assets to protect, what is the point of becoming an LLC? If you don't do all your LLC paperwork and record keeping in order, there is no corporate veil to cover your ASSets. Seems like you are throwing money to lawyers and accountants when you should be buying more RAM, more storage and faster processors! J Webster _____ From: Webster [mailto:[email protected]] Subject: RE: Incorporate, LLC, or ??? From: Stephan Barr [mailto:[email protected]] On Behalf Of lists Subject: RE: Incorporate, LLC, or ??? LLC here. Do it; it's cheap and easy and then you can deduct lot's o stuff. Can you give me one example on what you can deduct as an LLC that you can't deduct as a Sole Prop.? ~ Finally, powerful endpoint security that ISN'T a resource hog! ~ ~ <http://www.sunbeltsoftware.com/Business/VIPRE-Enterprise/> ~
