floradelaluna
Junior Member
What is the name of your state (only U.S. law)? GA
Dh has been a subcontractor for over 15 years. A few years ago he became incorporated. I am currently an employee of the business (which, by the way, isn't doing well and is in deep, deep debt.) Today I was talking with a woman who has just started a sole proprietorship in her own name, and her husband does the work and is the employee. She says there are tax advantages to this because being a woman, she's the minority. I was puzzled that our CPA never mentioned this, and she says it is a way to protect yourself (the wife.) I'm a little confused, and I, personally have never developed a relationship with the CPA. She was also talking about LLC Corporations protecting against bankruptcy, which I know nothing about. I feel sure we are doing something wrong (other than the terrible housing market?), but what else is it?
Dh has been a subcontractor for over 15 years. A few years ago he became incorporated. I am currently an employee of the business (which, by the way, isn't doing well and is in deep, deep debt.) Today I was talking with a woman who has just started a sole proprietorship in her own name, and her husband does the work and is the employee. She says there are tax advantages to this because being a woman, she's the minority. I was puzzled that our CPA never mentioned this, and she says it is a way to protect yourself (the wife.) I'm a little confused, and I, personally have never developed a relationship with the CPA. She was also talking about LLC Corporations protecting against bankruptcy, which I know nothing about. I feel sure we are doing something wrong (other than the terrible housing market?), but what else is it?