Sole proprietorship or s-corp?

Discussion in 'Business Operations' started by Joel B., Jun 17, 2002.

  1. Joel B.

    Joel B. LawnSite Senior Member
    from MN
    Posts: 458

    I am planning on being a one man operation (mowing and plowing) for now and was wondering which would be the best for me? I've heard that with a SP your personal property is not protected if you are sued; is this true?

    Thanks for any opinions,

    Joel B.
     
  2. Sean Adams

    Sean Adams LawnSite Gold Member
    Posts: 3,597

    Joel,

    There have been some pretty good discussions on this topic. I would definitely review the search section for some good insight. A lot of people have differing opinions when it comes to this issue. Some claim that being a sole prop is better for tax purposes and as long as you are insured properly there won't be a problem. Others insist that incorporating is the best way to go. I think you should consult an attorney and lay out your situation. It would be even better if you could find a small business attorney accustomed to dealing with service businesses on this matter.
     
  3. As sean stated try a search, this topic has been discussed in the past and there has been some very good dialog. there is a great legal web site it is NOLO.COM give it a try it will answer most of your questions. :blob3: :blob4: :blob1:

    steve
     
  4. Kent Lawns

    Kent Lawns LawnSite Senior Member
    from Midwest
    Posts: 870

    One man show? SP for sure.
     
  5. while you are at it check into LLC also
     

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