LLC or Incorporate?

I prefer a corporate structure. You might want to check with your CPA or attorney to see which might work best in your situation. You are usually paid under a 1099 as an owner operator. There are advantages to each, but I still prefer the corporate structure to the LLC.

 

From what my tax attorney explained to me is:
1.) Filing anything other than sole proprieter in this case is a waste of money.
Because
2.) Inc, LLC, etc. Doesnt save you from lawsuit when its just you and one truck.

If someone else is going to operate it, or if you will own multiple units with drivers then it makes sense to go with an LLC, etc

That's how it was explained to me in my situation

 

Eastwood is correct.

 

I'm a s cooperation

 

S corps late filing just got upped over 2000$ last year, you must stay on top of a lot of new things.

 

Everyone's situation is different. Liability is only one reason to incorporate or file an LLC. There can be tax advantages to operating under a corporate structure. There is a little more paperwork involved with a corporation or LLC, but to me it is worth it. The time it takes to maintain the corporation is minimal. It can also make it easier to establish a line of credit or qualify for a commercial loan, should the need arise.

 

It will make no difference to the company.

Google "Piercing the corporate veil"

 

I would not think that most companies would have an issue with your having a corporation or LLC. You may still be required to personally sign any lease agreement. But, any settlements would be in the name of the corporation rather than you personally.