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RE: Sole Proprietor or LLC

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I brought this up with an atty who told me that incorporating or establishing an LLC in California would provide me with no protection what so ever from liability.
 
Michel
-----Original Message-----
From: Thor Tandy [mailto:vicpeng(--nospam--at)telus.net]
Sent: Wednesday, March 03, 2010 11:28 AM
To: seaint(--nospam--at)seaint.org
Subject: RE: Sole Proprietor or LLC

True, LLC’s provide 1 barrier of liability protection but Directors are not free from being attached ...

 

Thor A. Tandy P.Eng, C.Eng, Struct.Eng, MIStructE
Victoria, BC
Canada

 

 

From: David Topete [mailto:d.topete73(--nospam--at)gmail.com]
Sent: Wednesday, March 03, 2010 11:16 AM
To: seaint(--nospam--at)seaint.org
Subject: Re: Sole Proprietor or LLC

 

Joe,

 

I've tried to shy away from moonlighting and side work from my regular 9 to 5.  The main reason being that a sole proprietorship has much less protection from damages.  As I have understood it, if you are a SP, all assets including your personal property are fair game.  An LLC provides some protection against that type o' stuff.

 

Good luck.  I'd be curious to hear others, and any info you may get about this.

On Wed, Mar 3, 2010 at 10:26 AM, Thor Tandy <vicpeng(--nospam--at)telus.net> wrote:

Here in Canada an incorporated entity (LLC) may have some tax advantages.  Also has more flexibility in investment strategies and scope of activity than Sole Proprietor.

 

Thor A. Tandy P.Eng, C.Eng, Struct.Eng, MIStructE
Victoria, BC
Canada

 

 

 

From: Joe Venuti [mailto:jovenengr(--nospam--at)verizon.net]
Sent: Wednesday, March 03, 2010 10:21 AM
To: seaint(--nospam--at)seaint.org
Subject: Sole Proprietor or LLC

 

Hello All

 

A non technical question………from your own personal perspective and experience; what are the Pros and Cons Sole Proprietor or LLC ?

 

 

 

Joe Venuti,  P.E.

Joven Engineering

La Quinta,  CA

jovenengr(--nospam--at)verizon.net

 




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David Topete, SE