Isn't Chrysler an LLC? On 2016-12-08 11:29, James Dugger wrote: > It is understandable that hiring a contract employee's LLC is risky, > the answer is in the name - Limited "Liability" Company. LLC's were > designed to make it easy to get the advantages of incorporation > without its full formal rigid tax and accounting structural > requirements. The biggest advantage is as a liability shelter. The > Real Estate Development Industry literally runs on them. > > They are intentionally setup to make it legally difficult for another > entity to "pierce the financial veil of the corporation". The biggest > advantage of an LLC is not the one your contracted with. It's the > second or third that you don't have access to. > > What I mean by this is that if you are an entrepreneur and you own say > 5 different businesses all LLC's and one client contracted through one > of your LLC's successfully sues you, Assuming your other LLC's are not > contracted with the client (under the same contract) They legally > cannot pierce your other LLC's to go after additional assets. This is > by design. > > I have several LLC's and have used them to shelter activities between > contracts for years, for this reason. Granted I am not contracting as > a "contract employee" in these instances clients are hiring my > company. As is how it should be. > > So it is understandable that large corps would not want to hire LLC's > because they are taking the risk. > > On Thu, Dec 8, 2016 at 10:26 AM, Rusty Ramser > wrote: > >> "Forming an LLC in AZ is simple ... and takes 3 or 4 hours (for a >> beginner) over about 6 weeks." >> It's even easier than you realise. It should take about 1 hour (2 >> at the absolute most) over the course of a single Saturday >> afternoon. If you want to hand-carry your forms into the government >> office in downtown Phoenix that processes them, that will add a few >> hours during the work week. But barring that, it's absurdly easy to >> set up an LLC. There are plenty of lawyers, CPAs, etc. that are >> happy to charge you a hefty fee to handle the paperwork of >> establishing an LLC -- don't fall for that rubbish. >> >> Cheers. >> >> -----Original Message----- >> From: PLUG-discuss [mailto:plug-discuss-bounces@lists.phxlinux.org] >> On Behalf Of Keith Smith >> Sent: Friday, 9 December 2016 04:01 >> To: Main PLUG discussion list >> Subject: Sec. 1706 of the Tax Code >> >> David, you have brought up Sec. 1706 of the Tax Code several times >> over the years. I am not familiar, however from what you describe >> it sounds like it prohibits a programmer from becoming a sole >> proprietor, however it sounds like it does not stop agencies from >> doing contract work. >> >> What is an agency? >> >> I'll read Sec. 1706 of the Tax Code when I get done with my current >> project and have more time. >> >> Sounds like the solution is to form an Limited Liability Company >> (LLC). >> My accountant says it is legitimate to form an LLC and be a one man >> band and to have only one client. He say that is a legit business. >> >> Forming an LLC in AZ is simple. Fill out the forms the state >> provides pay your fee with the filing and publish. I think it costs >> about $85 and takes 3 or 4 hours (for a beginner) over about 6 >> weeks. >> >> Anyone have any thoughts? >> >> -- >> Keith Smith >> --------------------------------------------------- >> PLUG-discuss mailing list - PLUG-discuss@lists.phxlinux.org To >> subscribe, unsubscribe, or to change your mail settings: >> http://lists.phxlinux.org/mailman/listinfo/plug-discuss [1] >> --------------------------------------------------- >> PLUG-discuss mailing list - PLUG-discuss@lists.phxlinux.org >> To subscribe, unsubscribe, or to change your mail settings: >> http://lists.phxlinux.org/mailman/listinfo/plug-discuss [1] > > -- > > James > > LINKEDIN [2] > > > Links: > ------ > [1] http://lists.phxlinux.org/mailman/listinfo/plug-discuss > [2] http://www.linkedin.com/pub/james-h-dugger/15/64b/74a/ > > --------------------------------------------------- > PLUG-discuss mailing list - PLUG-discuss@lists.phxlinux.org > To subscribe, unsubscribe, or to change your mail settings: > http://lists.phxlinux.org/mailman/listinfo/plug-discuss -- Keith Smith --------------------------------------------------- PLUG-discuss mailing list - PLUG-discuss@lists.phxlinux.org To subscribe, unsubscribe, or to change your mail settings: http://lists.phxlinux.org/mailman/listinfo/plug-discuss