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  • Hi Kay,
     
    I will await your email..
     
    Incorporate is far better for two reasons: saving on taxes and personal legal protection.
     
    Sole Proprietorship is generally suggested by most CPA's, but it is usually out of ignorance than out of insight..  You know, those who "go through the motions" will probably suggest a S-Corp Sole Proprietorship as a canned answer.
     
    But, S-Corps are a mere extension of yourself, which means you can only do limited writeoffs and that being at the end of the year, after the government returns it. Further, as an extension of yourself, you are liable if someone gets hurt of sues your company.
     
    C-Corps are a seperate entity from you, so if someone sues the company, they can't damage/take anything you personally own.
     
    The downside to a C-Corp is that those who are lazy will not like the fact they have to plan one meeting a year with board members you apoint for the company..  But, it honestly, is a simple task.  The paperwork to start a C-Corp is really not that hard either.. Only two docs, if I recall and only costs about $150 to file total..
     
     
    Sincerely
    Tony


    Kay Freeman <ekaybfree@yahoo.com> wrote:
    Hi Tony, Thanks for this opportunity.  I'm looking forward to what I will be learning.  My time is short this evening, but I will get back to you a thorough response soon.  I am a full time Texas school teacher and have been preparing to return to school tomorrow.  I will email tomorrow evening late.  My first question is whether to incorporate or go sole proprietorship?  Kay Freeman
     








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