On 2011-10-03, Lloyd E. Sponenburgh lloydspinsidemindspring.com wrote:
Ignoramus19762 fired this volley in
:

I do not want to have any more business entities. One is quite enough
for me.


Ig, the burden of maintaining an LLC for particularly liability-prone
activities is slight. It's cheap as dirt to form, easy as pie to do the
reporting, and gives you the "shield of the corporate veil" from any
misapprehensions of the company itself.

I do not think that it gives as much of a shield as you think.

I will ask my lawyer about it, I talked to him a little today. I doubt
that just because I form an LLC, and someone accidentally causes
damage to neighbors, or the environment, that I would be off the hook
just because I formed some kind of business entity.

Your first duty is to protect and support your family. You cannot take
risks with their welfare by failing to do what is both inexpensive and
prudent, especially when it will require only 10-15 hours of work a year
to maintain that circumstance.

Talk to your attorney about this. It's not a great big deal, at all.
It's certainly less burdensome than creating an "S" corp.

S corporation is what I have.

i