Self-employed techs

[Clark Sprague]

David,  I know that one of the main attractions of incorporating is that it separates your assets from the corporation's assets in case of a lawsuit.  If there is trouble, it is the corporation that is at risk, not you personally.  Also, all business income comes to your company, and the company pays you a salary, takes out taxes, etc.  
    I have an informal partner, he is LLC.  He uses a payroll service, that takes care of all that for him, for a fee.  He has employees, and that gives the responsibility for figuring out employee taxes, withholding. etc to the payroll service, and they pay him and his wife a salary.
    I know that there is much more to be said on this.  Our chapter had a technical on this, and the lady said that there was much to be said for forming an S-corp, but it was awhile ago, and I don't remember it all.  I'm sure that there are more who will enlighten us all further.
    Clark A. Sprague, RPT
  ----- Original Message ----- 
  From: David Love 
  To: 'Pianotech List' 
  Sent: Saturday, October 06, 2007 10:25 AM
  Subject: RE: Self-employed techs


  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 Love
  davidlovepianos at comcast.net
  www.davidlovepianos.com 


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