Scottie, What made you go S-Corp over LLC? -RickG On Wed, Jun 3, 2009 at 2:44 AM, Scottie Arnett <[email protected]> wrote: > Yep, me too. Right out of the starting gates over 10 years ago, straight with > S-Corp. Too much stupid s**t too be sued over by being a service provider. > For instance... Oh, your child saw porn? Maybe you should be watching over > your child instead of trying to screw me out of every penny I own? Or... > there were three companies products that YOU could have bought to protect > your children from seeing that! > > The ISP business and the liability with Insurance companies is what really > gets me laughing! > > Scottie > > ---------- Original Message ---------------------------------- > From: Travis Johnson <[email protected]> > Reply-To: WISPA General List <[email protected]> > Date: Tue, 02 Jun 2009 21:59:58 -0600 > >>I understand the corporate structure and how it works. I also know that >>if you follow all the proper corporate bylaws, they can NOT break the >>corporate barrier. Yes, they will try and list each person individually, >>but if you have a good attorney, that is a simple motion to get the >>individuals removed (been there, done that). >> >>Travis >>Microserv >> >>Marlon K. Schafer wrote: >>> It can be done a lot cheaper. But we work hard to do it right not cheap >>> these days. >>> >>> And the corporate veil isn't as strong as it used to be. If your company >>> screws up the officers (that's you) will be named on any suit these days >>> too. >>> >>> marlon >>> >>> ----- Original Message ----- >>> From: Travis Johnson >>> To: WISPA General List >>> Sent: Monday, May 25, 2009 9:53 AM >>> Subject: Re: [WISPA] Quesiton on Funding / Financing / Capital >>> Availability >>> >>> >>> Huh? We incorporated in 1997 and I think total cost was less than $500. >>> How do you ever expect to get away from having to do personal guarantees if >>> you don't operate like a "real" business? >>> >>> Travis >>> Microserv >>> >>> Marlon K. Schafer wrote: >>> One more thing. I don't agree with your definitions per se'. >>> >>> We all have businesses. A proprietorship is a TYPE of business. We are a >>> proprietorship because I'm not incorporated (incorporating is over rated and >>> expensive to do right). I'm still a business though.... >>> >>> http://en.wikipedia.org/wiki/Business >>> >>> http://en.wikipedia.org/wiki/Sole_proprietorship >>> >>> http://en.wikipedia.org/wiki/Asset >>> >>> marlon >>> >>> ----- Original Message ----- >>> From: "Charles Wu" <[email protected]> >>> To: "WISPA General List" <[email protected]> >>> Sent: Sunday, May 24, 2009 10:03 PM >>> Subject: Re: [WISPA] Quesiton on Funding / Financing / Capital Availability >>> >>> >>> Hi Marlon, >>> >>> I think it's appropriate to make a few definitions and distinctions on >>> things so everyone is on the same page >>> >>> Specifically, for purposes of making my point, I define >>> >>> Proprietorship: A commercial activity engaged in as a means of livelihood >>> or profit >>> >>> Business: A unique system of processes and procedures that documents and >>> codifies a specific method of proprietorship >>> >>> Asset: cash, inventory, equipment, infrastructure, customer contracts, >>> brand, marketing, etc >>> >>> Grin. Sure it is. That's what a LOT of small business people do. It's >>> also kind of common for doctors, dentists, plumbers etc.... Sometimes it >>> sucks, >>> Now, everything you stated above is just a method of proprietorship, >>> and >>> in most cases, from a sale perspective, a proprietorships isn't worth >>> anything more than the depreciated value of its assets >>> >>> Say you were buying out the local plumber's office -- what would he have >>> of value? His truck? Some old tools? A customer list / brand perhaps >>> (but the reality of things is that customers do business with him because >>> of him, and if you bought him out and he moved out of town, those >>> customers would probably go back to being on the open market) >>> >>> Now, in comparing the WISP 'proprietorship' vs. the plumber, it's worth >>> noting that the WISP is somewhat unique in that it results in the creation >>> of an independent asset that holds onto a lot of value (e.g., the >>> recurring revenue and everything that goes to support it); in many ways, >>> this is akin to real-estate >>> >>> Not >>> everyone out there even wants to get that big (if I had a nickle for every >>> business owner that's told me the most fun they had and the most money >>> they >>> made was when it was just them, no employees......) But then again, >>> that's >>> one of the really cool things about this buisness, it's big enough and >>> flexible enough to allow many different business models and operator >>> dreams >>> to bear fuit! >>> True...and you have the added benefit of building an asset that has >>> value >>> (be happy we're not plumbers =) >>> >>> -Charles >>> >>> >>> >>> >>> >>> -------------------------------------------------------------------------------- >>> WISPA Wants You! Join today! >>> http://signup.wispa.org/ >>> -------------------------------------------------------------------------------- >>> >>> WISPA Wireless List: [email protected] >>> >>> Subscribe/Unsubscribe: >>> http://lists.wispa.org/mailman/listinfo/wireless >>> >>> Archives: http://lists.wispa.org/pipermail/wireless/ >>> >>> >>> >>> -------------------------------------------------------------------------------- >>> WISPA Wants You! 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