Re: Incorporated Independent Contractors?

Subject: Re: Incorporated Independent Contractors?
From: Romay Jean Sitze <rositze -at- NMSU -dot- EDU>
Date: Mon, 13 Nov 1995 16:20:59 -0700

On Sat, 11 Nov 1995, Robert Plamondon wrote:

> RoMay Sitze writes:

> > I am not
> > yet at a point where I would consider incorporation, but an acquaintaince
> > of mine recently began this process on the advice of her CPA. She has
> > been doing contract work for about 7 years. What she told me is that a
> > lot depends on how much you are currently worth--and therefore how much
> > you have a need to protect. This would suggest that for those who are
> > starting out in this field incorporation may be down the road a bit
> > yet. The advice to check with your CPA and/or get legal advice from a
> >good lawyer is still the best advice.

> You may be missing the point here. A corporation has no special protection
> for its own assets; it's your PERSONAL assets that will be protected
> (in the event of business failure, a lawsuit, or, in the case of a "C"
> corporation, from the IRS coming through with a vacuum cleaner and
> sucking up all the money they can find).

I don't think I am missing the point. However, I may not have
communicated my own point adequately. I believe my friend was trying to
say that there is a balance point between the costs of incorporating and
the costs of the personal risk assumed if you don't incorporate--and that
balance point is one of the determining factors in making the decision to

RoMay Sitze, rositze -at- nmsu -dot- edu

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