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Sole Proprietor vs Incorporating

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T

trh90

Guest
What is the name of your state? Iowa

The company I currently work for is a sole proprietorship. He is considering incorporating the business. I am doing the research on the benefits of both. I have no idea where to start. Can someone please help me?
 


I AM ALWAYS LIABLE

Senior Member
trh90 said:
What is the name of your state? Iowa

The company I currently work for is a sole proprietorship. He is considering incorporating the business. I am doing the research on the benefits of both. I have no idea where to start. Can someone please help me?

My response:

Is there something mentally wrong with your boss?

The reason why I ask is because you are obviously not an attorney. The area of "incorporation" of a business is not for the uninitiated or the faint of heart. It requires the attention of an experienced attorney. There are too many ramifications, both from a business standpoint, as well as the tax consequences. These, and other indicia, need to be reviewed by an experienced practitioner.

So, in short, why hasn't your boss merely made an appointment for a consultation with an attorney to look into this matter?

IAAL
 
T

trh90

Guest
He didn't know if he needed and attorney or and accountant to help decide what was best. I apprieciate the input because it saved me a lot of time of research. I will advice him to see an attorney. Thank you.
 

I AM ALWAYS LIABLE

Senior Member
trh90 said:
He didn't know if he needed and attorney or and accountant to help decide what was best. I apprieciate the input because it saved me a lot of time of research. I will advice him to see an attorney. Thank you.

My response:

No disrespect intended but I have to ask - - He needed to be told to consult with an experienced attorney? Do you help him put his pants on in the morning too?

There are many, many books on the subject of incorporation, and law courses on the subject. Can you imagine how long it would have taken you to become "versed" in this area of law?

If he asked you to take on this task, when you're not an attorney, I feel very sorry for the way he must be treating you in your workplace concerning the work you do "know", let alone work you're not qualified to do. I mean, the guy sounds like a dunderhead if he asked you to do this.

Why not ask you to build a Space Shuttle?

If I were you, I'd "get out of Dodge" and find a smarter employer.

IAAL
 

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