[OSGeo-Discuss] RE: Insurance for contractors?

[Landon Blake]

FYI: 

In some states professionals are restricted from forming LLCs or
corporations. The law requires that you are personally liable for your
work.

In some states professionals are only allowed to form special LLCs or
corporations.

This may only apply to licensed professionals at this time, but as the
line between licensed professions and other professions blurs this may
become a more foggy issue.

Landon
Office Phone Number: (209) 946-0268
Cell Phone Number: (209) 992-0658
 
 

-----Original Message-----
From: discuss-bounces at lists.osgeo.org
[mailto:discuss-bounces at lists.osgeo.org] On Behalf Of Miles Fidelman
Sent: Monday, September 14, 2009 5:23 PM
To: OSGeo Discussions
Subject: Re: [OSGeo-Discuss] RE: Insurance for contractors?

Michael P. Gerlek wrote:
> * in the US, sole proprietorship is the way to go for simple
one-person, garage-based shops
>
>   
Having contracted as both a sole proprietorship and a corporation, I'd 
qualify that one.  Sole proprietorship is easy, but.....

- you don't get quite as many tax benefits

- you open yourself up to a lot of personal liability, even with 
insurance - if you have any serious assets (say a house or stock 
portfolio that hasn't completely tanked), putting a corporate shell 
between you and a lawsuit provides some serious protection

- you can simplify some of the paperwork by incorporating as either 
Subchapter S or an LLC

Miles

_______________________________________________
Discuss mailing list
Discuss at lists.osgeo.org
http://lists.osgeo.org/mailman/listinfo/discuss


Warning:
Information provided via electronic media is not guaranteed against defects including translation and transmission errors. If the reader is not the intended recipient, you are hereby notified that any dissemination, distribution or copying of this communication is strictly prohibited. If you have received this information in error, please notify the sender immediately.