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    lzgiam's Avatar
    lzgiam Posts: 4, Reputation: 1
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    #1

    Feb 14, 2011, 11:57 AM
    If you are a 1099 worker is it best to have a corporation to run your expenses throug
    smoothy's Avatar
    smoothy Posts: 25,490, Reputation: 2853
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    #2

    Feb 14, 2011, 12:04 PM

    Personally... I wouldn't have a small business without an incorporation... because of potiential liabilitiy issues if for no other reason.

    If you ARE the 1099 employee... I don't think there is any real benefit in general, but depending on what exactly you do... there might be.
    excon's Avatar
    excon Posts: 21,482, Reputation: 2992
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    #3

    Feb 14, 2011, 12:07 PM
    Quote Originally Posted by lzgiam View Post
    If you are a 1099 worker is it best to have a corporation to run your expenses throug
    Hello l:

    As a sole proprietor, you can deduct ANYTHING a corporation can, and you don't have to pay to set up a corporation.

    excon
    lzgiam's Avatar
    lzgiam Posts: 4, Reputation: 1
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    #4

    Feb 14, 2011, 12:11 PM
    Comment on smoothy's post
    I'm not worried about liability issues because I have E&O insurance. I wondered if there were any tax benefits I was missing.
    lzgiam's Avatar
    lzgiam Posts: 4, Reputation: 1
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    #5

    Feb 14, 2011, 12:11 PM
    Comment on smoothy's post
    Thank you!
    lzgiam's Avatar
    lzgiam Posts: 4, Reputation: 1
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    #6

    Feb 14, 2011, 12:12 PM
    Comment on excon's post
    Thank you very much for the quick response.
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