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Re: How to become a "Contractor" not a "Sub-Contractor"
Subject:Re: How to become a "Contractor" not a "Sub-Contractor" From:Peter <pnewman1 -at- home -dot- com> To:"TECHWR-L" <techwr-l -at- lists -dot- raycomm -dot- com> Date:Sun, 09 Sep 2001 09:37:25 -0400
Andrew Plato wrote:
>
> --- Peter <pnewman1 -at- home -dot- com> wrote:
> My accountant said that LLCs can often attract the IRS as they tend to be
> used by unscrupulous people who have scam companies. A full S corp isn't
> much harder to set up and maintain and won't attract the eyes of the IRS.
That particular statement is without foundation. I have heard variations
on that and it simply is not true. I wonder if it reflects a gap in your
accountant's knowledge.
This is not intended to the legal advice.
> > That is precisely the reason why you should have your LLC as a layer of
> > insulation between you and a potential lawsuit.
>
> Forming a corporation does not entirely protect you. Companies may still
> sue you personally if you did the work. However, in general a corporation
> protects you more than nothing.
I never said that it did. Although as a practical matter is a lot easier
to establish that you have conducted business as an LLC, then as a
corporation.
I do not practice law, although I did spend 35 years representing small
businesses. This is not intended to be the advice and you should consult
a local attorney who is knowledgeable in both business and tax matters
for an answer that is applicable to your personal situation. The money
that you pay him/her is well worth it.
--
Peter
Mailto:peternew -at- optonline -dot- net
Adapting old programs to fit new machines
usually means adapting new machines to
behave like old ones.
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