OT- Contractor

[ted leslie]

Or you screw something up and you end up losing your house and car to pay the damages.
Don't leave assets in your company, and if sued, it folds.
If you are married (commonlaw), you have to incorporate, else you also leave your significant other at risk.
Actually, there is just no reason to not incorporate, its just unnecessary exposure.

tl

On Mon, 21 Jun 2010 22:47:33 -0400
Yanni Chiu <yanni-bJEeYj9oJeDQT0dZR+AlfA at public.gmane.org> wrote:

> William Park wrote:
> > ...  Though, if you're the only shareholder, the only
> > executive, and the only employee, then I don't think you can escape
> > resposibility as easily.
> 
> But that is the whole purpose of incorporation and limited liability. 
> What might happen is that you might be asked to personally guarantee a 
> contract, but that is beyond what is required.
> 
> If you're referring to a case of "piercing the corporate veil" 
> (http://en.wikipedia.org/wiki/Piercing_the_corporate_veil), then you 
> should avoid doing the things that cause that - i.e. don't mix personal 
> and corporate monies and stuff.
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-- 
ted leslie <tleslie-RBVUpeUoHUc at public.gmane.org>
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