[OSGeo-Discuss] RE: Insurance for contractors?

[Craig Miller]

Best of both worlds... LLC.  Fall through taxation, but offers protection
too.

Craig



> -----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
> 
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