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  1. #1
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    Puzzle (hypothetical question)

    Let's say I'm an s corp and the county council pays me for services, I give them a money back guarantee. Then I use the money to train, hire, outsource.. I spend it towards services but if they don't like the results or I'm not able to meet said goals & I just spent all the $ training and hiring and outsourcing. In worse case scenario I didn't have sufficient income to repay & had to declare bankruptcy of my new business... wouldn't that be the council's write off anyways? And even then, the attempt alone is benefiting the economy. What's the risk?


  2. #2
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    Quote Originally Posted by GinaRox View Post
    Let's say I'm an s corp and the county council pays me for services, I give them a money back guarantee. Then I use the money to train, hire, outsource.. I spend it towards services but if they don't like the results or I'm not able to meet said goals & I just spent all the $ training and hiring and outsourcing. In worse case scenario I didn't have sufficient income to repay & had to declare bankruptcy of my new business... wouldn't that be the council's write off anyways? And even then, the attempt alone is benefiting the economy. What's the risk?
    We don't do hypotheticals nor homework.


  3. #3
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    Quote Originally Posted by GinaRox View Post
    Let's say I'm an s corp and the county council pays me for services, I give them a money back guarantee. Then I use the money to train, hire, outsource.. I spend it towards services but if they don't like the results or I'm not able to meet said goals & I just spent all the $ training and hiring and outsourcing. In worse case scenario I didn't have sufficient income to repay & had to declare bankruptcy of my new business... wouldn't that be the council's write off anyways? And even then, the attempt alone is benefiting the economy. What's the risk?
    Risk to who?

    You?

    Well, bankruptcy puts your financially future in the toilet for 10 years.

    You won't only be bankrupting your business but you, personally, will also have to file for bankruptcy because you will undoubtedly be sued as an individual.

    Please disabuse yourself of the myth that any kind of artificial entity protects you personally from liability. It doesn't.


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