S.P., Inc. or L.L.C.???

Huh, It doesn't?

http://www.fmcsa.dot.gov/registration-licensing/print-forms/print-forms.htm

http://www.sos.state.mn.us/index.aspx?page=92

Then there is this information on what's related to tax information
http://www.irsvideos.gov/SmallBusinessTaxpayer/virtualworkshop

 

One thing to consider on the self employed issue is that with the reporting requirements the way they have them on 1099's anymore, it requires more of them to be issued.

To do these, a EIN is needed. Does not cost anything is simply makes it nicer to not put the SSN out there. I have not signed a professional return with my social security number since the early 90's.

As far as the ability to shield assets, read literature available on piercing the corporate veil.

 

This is what I said already most people are trained to give away their time and money nedlessly. What you posted didn't say they give out your information this is you reading what you want it to be. Then why would you want to register with the state for? Thats like raising your hand say I have some money for you. Only registering I'll do with the state is when I fill my state return and ifta. So now you have more numbers to keep up with and more possibilities of someone hacking them and all kinds of other bothers associated with them. Nope I'll keep my regular old w9 until a real financial reason occurs to need some other number. The simplier the better and the less it cost me. This here is a foreign idea to those who love nanny stateism so I understand your need to get all these extra numbers. If the goverenment said it's a good idea then it's probably bad for you. They said lahood and ferro were good and I differ on that to.

 

Let us know how that goes for you when they come to audit you..

 

Do you really think your ssn is that safe? You can buy that info online. Best place to hide something is in plain sight. all extra numbers do is say I want to pay more in fees licences and etc.
Your information is everywhere anyway so all this thinking your protecting something is foolish folly. Give you an example once you get these extra numbers then you got to get different bank accounts but to open them you have to show your personal info. so your still doing the same thing. But now you've gotten two accounts and at least one cost money. When a simple Free one would work. everything along this path cost extra for some feeling of false security. If your worried about getting your info hacked get three free accounts one for dumping direct deppsits in, one ecveryday use and the last isolated from the other two where your main money is. Check your credit file every so often and you way ahead of the false sense of security some ein gives you. and it cost nothing extra.

 

Never said anything about worried about it.

 

What are they going to audit me for? This is the typical reply of someone who loves spending needlessly.
Had a freind once told me about the same turns out he's the one the state froze and seized his bank account he loved giving money away to.
Back when I had a truck shop state tax people came to see me I think it was an 1099 customer messed up not sure.
I cashed all my checks so no real way to prove anything except the 1099 stuff and I had filed more than that on 1040.
Guy asked how I lived I told him I's a reformed drug addict and my family gave me money, he poked around a little and never came back.
I have no fear of an audit I have had the government try worse than that before. Stuff like that only works with people who have a reason to fear them.
If they threatened me with hanging me over the edge of the huey long bridge or a snake I may get scared.

 

You know anytime you get something from uncle barry it's gonna cost you in the end? Last time I got an inspection I asked the police to beat me up rodney king style so I could retire with wealth.

 

Whatever turns you on.

 

That is not quite true. If someone is going after you as an individual owner, it is probably something you did. In that case, a civil suit will go after you. Even with big corps like Enron, the guys who ran it were dragged, kicking and screaming, into court where they lost their collective rear ends. If someone sues you, and wins, you will have to ante up. And that will come out of what you have for personal assets. If they sue only your operation, then you would be correct. But since you are the driver and only "employee", you had better rethink that "your personal assets will be protected" mantra. Check with an attorney. If you are the screw up, and someone wants their pound of flesh, you are going down.... LLC or not. If you were only a business owner, and your employee caused the problem, yep, you would be correct. Then your company would be sued and your personal assets would be separate. But as the sole owner, and principle operator of the truck, all bets are off.

As a sole owner and operator, the only real advantage to incorporating is for tax purposes. And an attorney and a cpa is your go to on that one.