<FONT face=Arial>-----Original Message-----<br>
From: David Love <davidlovepianos@comcast.net><br>
To: 'Pianotech List' <pianotech@ptg.org><br>
Sent: Sat, 6 Oct 2007 4:25 am<br>
Subject: RE: Self-employed techs<br>
<br>
</FONT>
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<div class=MsoNormal><FONT color=navy size=2><SPAN style="FONT-SIZE: 10pt; COLOR: navy; FONT-FAMILY: Arial">Has anyone explored the differences between forming an LLC and an S Corporation and the benefits of going that route as opposed to a simple sole proprietorship? </SPAN></FONT></div>
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<div class=MsoNormal><FONT face="Arial, Helvetica, sans-serif" color=navy size=2><SPAN style="FONT-SIZE: 10pt; COLOR: navy; FONT-FAMILY: Arial">If anyone can direct me to good literature or share their own experiences on the subject, I’d appreciate it.</SPAN></FONT></div>
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<div><FONT color=navy size=2><SPAN style="FONT-SIZE: 10pt; COLOR: navy"><FONT face="Arial, Helvetica, sans-serif">David Love<br>
</FONT><A href="mailto:davidlovepianos@comcast.net"><FONT face="Arial, Helvetica, sans-serif">davidlovepianos@comcast.net</FONT></A><br>
<A href="http://www.davidlovepianos.com/" target=_blank><FONT face="Arial, Helvetica, sans-serif">www.davidlovepianos.com</FONT></A></SPAN></FONT><FONT face="Arial, Helvetica, sans-serif" color=navy><SPAN style="COLOR: navy"> </SPAN></FONT></div>
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<br>
<br>
Here is what my son, the CPA, says:<br>
<br>
Quick answer:<br>
<br>
LLC and SCorp will both provide similar legal protection. But LLC is NO <br>
different from Sole Prop for tax purposes. <br>
<br>
So, if you looking for just legal protection, then LLC is fine. Setting up an <br>
LLC is fairly harmless, and there are not many down-sides. (Or any financial <br>
up-sides).<br>
<br>
However, if you want tax benefits AND legal protection, then SCorp is the way to <br>
go. <br>
<br>
Of course the tax benefits of an SCorp are not easily explained or obtained. So, <br>
anyone doing this should discuss it with a good CPA before setting up an SCorp. <br>
Otherwise, you may end up worse off than before.<br>
<br>
<br>
<br>
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<div style="CLEAR: both">Willem (Wim) Blees, RPT<br>
Piano Tuner/Technician<br>
Honolulu, HI<br>
Author of <br>
The Business of Piano Tuning<br>
available from Potter Press<br>
www.pianotuning.com</div>
<br>
<br>
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