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Old 04-28-2014, 08:42 AM
32vld 32vld is offline
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Join Date: Feb 2011
Location: LI NY
Posts: 3,200
Quote:
Originally Posted by wbw View Post
My CPA tells me that when my salary + profit = 200k it is time to go S corp.
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Thank you for ball parking it.

Quote:
Originally Posted by shane-pa View Post
Sometimes it isn't always about the money side of things. Personal liability comes into play here, too. I am starting my 4th year in business. I have amassed a lot of equipment and am doing larger jobs with increasing liability. Forming a business structure offers protection from lawsuits so you don't lose the farm.
Like the Geico commercial, everyone knows that. And not to minimize liability though again being solo, employees, equipment, scope of work, all make incorporating worth it or it not being worth it is another break even point. And the original point is about how business org effects income and taxes.

Though your point is something someone starting out has to be aware of and eventually deal with.
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