Self-employed techs

[Michael Spreeman]

Hi David,
 
Many sole proprietorships like ours will incorporate for financial protection, not necessarily financial gain. The corporation protects your personal assets in the event of a law suit against your business. I went with an LLC because it's easier to maintain and more flexible.  LLCs offer greater flexibility in ownership and ease of operation. There are no restrictions on the ownership of an LLC. An LLC is simpler to operate because it is not subject to the formalities by which S corps must abide. An LLC can be member-managed, meaning that the owners run the company; or it can be manager-managed, with responsibility delegated to managers who may or may not be owners in the LLC. Here's a link that will provide you with you some information on the two: http://www.llc.com/LLC_vs_S_Corporation.html?utm_source=google&utm_medium=ppc.
 
                Michael Spreeman http://www.spreemanpianoinnovations.com


From: davidlovepianos at comcast.netTo: pianotech at ptg.orgSubject: RE: Self-employed techsDate: Sat, 6 Oct 2007 07:25:05 -0700




Has anyone explored the differences between forming an LLC and an S Corporation and the benefits of going that route as opposed to a simple sole proprietorship?  
 
If anyone can direct me to good literature or share their own experiences on the subject, I’d appreciate it.
 

David Lovedavidlovepianos at comcast.netwww.davidlovepianos.com 
 
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