Re: Laid Off

Subject: Re: Laid Off
From: Ken Poshedly <poshedly -at- bellsouth -dot- net>
To: "McLauchlan, Kevin" <Kevin -dot- McLauchlan -at- safenet-inc -dot- com>, "techwr-l -at- lists -dot- techwr-l -dot- com" <techwr-l -at- lists -dot- techwr-l -dot- com>
Date: Tue, 13 Nov 2012 08:08:49 -0800 (PST)

I'm sure to get my share of darts for this reply, but I was told many years ago
that "technically", one's personal assets (home, car, etc) are NOT at risk with
a corporation, but they are at risk with what is called a "Sole Proprietorship"
(which is really nothing more than a paying hobby and perhaps one step above
"freelancing").


Thus the benefits of incorporating; I did as a Subchapter S corporation (instead
of an LLC) on the advice of my CPA.

And yes, I know lawyers will go after any- and everything they can, but this is
what I was told is / was the legal way to protect one's personal assets from
lawsuits involving a corporation.

-- Kenpo in Atlanta




________________________________
From: "McLauchlan, Kevin" <Kevin -dot- McLauchlan -at- safenet-inc -dot- com>
To: "techwr-l -at- lists -dot- techwr-l -dot- com" <techwr-l -at- lists -dot- techwr-l -dot- com>
Sent: Tue, November 13, 2012 10:35:21 AM
Subject: RE: Laid Off

Here in Canada, we have unemployment insurance.
The generalities sound similar, except that ours is
federal, not provincial (... er... "State" for youse guys).
The specifics likely differ, but we have a tax man, too.

This business about a business is worrying.
How might it affect a full-time, long-time employee of
some unrelated company who, at some point, became
an officer of the spouse's little corporation, on paper, anyway?
No salary or remuneration of any kind ever drawn. The opposite,
more likely - loans to the corporation from shareholders... :-)

One would hate to think that one had been paying so-called
Employment Insurance premiums (taxes by another name)
for the past <mumble> years, while being ineligible to collect
benefits. List members, both south and north of the border
might want to discuss and inquire.
Discreetly, of course.

Off-list, some of those same people might want to discuss
the relative [non-]wisdom of being anything with respect
to a spouse's incorporated entity, if that entity ever got
sued and both of you were listed... and the non-active
party happened to be the owner of the family domicile...
Is the house not protected if you are (say) Secretary or
some other innocuous-sounding animal of the spouse's
incorporated company? It's a nice thought that you could
step in and keep the company running if the spouse was
hurt or killed, rather than watch it wither and shrivel during
probate... but it's not nice if being on the wrong side of
the corporate veil paints a bull's-eye on your back and a
"Seized" sign on your house.

The things that come up in random conversations.... tsk!

-k




> -----Original Message-----
> From: techwr-l-bounces+kevin.mclauchlan=safenet-
> inc -dot- com -at- lists -dot- techwr-l -dot- com [mailto:techwr-l-
> bounces+kevin -dot- mclauchlan=safenet-inc -dot- com -at- lists -dot- techwr-l -dot- com] On
> Behalf Of Lauren
> Sent: November-12-12 7:37 PM
> To: techwr-l -at- lists -dot- techwr-l -dot- com
> Subject: Re: Laid Off
>
> Pennsylvania calls that the "Office of Integrity." (good grief)
>
> My guess, is somebody filed a complaint about a small business
> owner
> collecting PA UC after the business cards were noticed.
>
> http://www.uc.pa.gov/portal/server.pt/community/report_fraud/20
> 597
>
> This form looks serious,
> http://www.portal.state.pa.us/portal/server.pt?open=514&objID=98
> 9852&mode=2.
>
> I think it is good for everyone to learn the laws of their state, since
> it looks like a simple side business, whether it generates revenue or
> not, can lead to trouble.
>
>
>
> On 11/12/2012 4:16 PM, Milan DavidoviÄ wrote:
> > On Mon, Nov 12, 2012 at 7:04 PM, Peter Neilson
> <neilson -at- windstream -dot- net> wrote:
> >> The people in those departments work on a system that rewards
> them for
> >> meeting goals that would never occur to those of us on the
> outside.
> > Ah, I was thinking of something more specific: what do they call the
> > depts. that turn you in and that investigate you, respectively? Or are
> > they part of the same dept. (of whatever)?
>
>
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Follow-Ups:

References:
Laid Off: From: Robin Davidson
RE: Laid Off: From: Cardimon, Craig
Re: Laid Off: From: Robin Davidson
RE: Laid Off: From: Kat Kuvinka
Re: Laid Off: From: Robin Davidson
Re: Laid Off: From: Peter Neilson
Re: Laid Off: From: Milan Davidović
Re: Laid Off: From: Lauren
RE: Laid Off: From: McLauchlan, Kevin

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