Thanks Terry... great insight! I am actually at the point of deciding to move from a sole proprietorship to some form of corp., but am in the process of weighing tax ramifications. Can anyone offer any insight on that aspect?
Thanks! Lloyd Lloyd Wells [email protected] www.swellgraphics.net 512-213-4818 On Thu, Aug 20, 2009 at 5:30 PM, Holly Fortenberry < [email protected]> wrote: > > Yes, Terry, this is the way I've been leaning as well. It's great to > hear your experience. Thank you! > > Terry Brown wrote: > > Personally, I can speak from experience by saying that if you intend on > > having people working for you on whom you will be relying to deliver work > > then you should definitely invest in some level of incorporation - > whether > > that be a C-corp, S-corp, LLC, etc. The reason for this is that you will > > personally be held liable if (more like WHEN) they fail to produce > something > > for a client and there is an unhappy camper on the other end. > > > > Ultimately, and obviously, you would like to avoid those situations > > altogether. IF you are working by yourself and are confident in your > > ability to deliver solid work then you can get by with a sole > > proprietorship. > > > > HOWEVER, and this is a big however, even when you DO deliver high quality > > work that doesn't fully protect you from some deviant people out there > who > > will sue just because they know it is more costly to defend a suit than > it > > is to settle. If you find yourself in such a situation it would be good > to > > have the protections of a corporate structure. > > > > You should bone up on running a company properly if you do so though. > > Something as minor as paying for your dry cleaning or a personal dinner > with > > a debit card from your "company" account can pierce the corporate veil of > > protection and expose you to personal liabilities you wouldn't have > > otherwise. > > > > Hope that helps! > > Terry > > > > > > > > -----Original Message----- > > From: [email protected] > > [mailto:[email protected]] On Behalf Of Holly Fortenberry > > Sent: Thursday, August 20, 2009 5:07 PM > > To: [email protected] > > Subject: [Refresh Austin: 4343] business model > > > > > > Hi folks, > > > > I've got a question I have not seen addressed yet. Which business model > > (sole proprietorship, LLC, etc.) do you think works best for a small web > > design firm? I'm planning to do my own design and basic development; > > but, I will contract with experts when necessary for advanced > > programming or graphic design needs. > > > > Thank you, > > Holly > > > > > > > > > > > > > > > --~--~---------~--~----~------------~-------~--~----~ Our Web site: http://www.RefreshAustin.org/ You received this message because you are subscribed to the Google Groups "Refresh Austin" group. [ Posting ] To post to this group, send email to [email protected] Job-related postings should follow http://tr.im/refreshaustinjobspolicy We do not accept job posts from recruiters. [ Unsubscribe ] To unsubscribe from this group, send email to [email protected] [ More Info ] For more options, visit this group at http://groups.google.com/group/Refresh-Austin -~----------~----~----~----~------~----~------~--~---
