Rawze's beer-belly shade tree Tax Advice...

[Rawze]

(02-10-2016 )skydog Wrote:  So if I have one truck and I'm the driver and the owner with my own authority , I should just be a sole proprietor and avoid being LLC or an S Corp. ?The preparer I have an appointment with told me I should become a s Corp , that it would save me money and be more secure from jeopardizing my home in case something bad happens . I was wondering if he was just trying to make more money for himself. Appreciate any feedback .

Depending on the size of your business, any tax benefits of an S corporation may be offset by the additional costs of filing the extra tax forms. There is quite often higher costs to being an s-corp, where your tax preparer will make a lot more money than you have saved if you had been a sole proprietor. - The only way to know this, is to be sole proprietor for about 3 years first,.. then consider the differences,.. after that, you can make better decisions by going back and looking at what you made,.. and what the differences would have saved you.

I do not recommend s-corp for anyone that is starting out,.. or does not have some years of serious income to compare it to.



There is NO AMOUINT OF PROTECTION, s-corp, LLC, NOTHING! -- protecting you if you are also the one driving the truck,. or if you are the one who told the driver what route to take,.. or if you are in a car behind that truck when something bad happens... YOU are the direct controlling factor to what that truck did at that moment... The whole LLC/corp protection thing is a sham in the trucking industry if your also the one driving the truck!. -- Go ask a lawyer who sues truckers and you will get your answer real fast.

Don't listen to a tax advisor about legal matters,.. ask a lawyer. -- Thats what I did,.. he laughed, and told me things like dirty tricks the lawyers do like pulling security cameras from truck-stops to see if you were actually in your truck for 10 hours, or inside watching TV... and things like pulling highway cameras to see if you were where you say you are on your log books,... There is no hiding from this stuff when something bad happens,.. ask Aleks's dad about that!. --his logs were off by 30 min (highway cameras did not match) and they denied all insurance claims and left him out to dry,.. even though he was NOT AT FAULT!. -- he lost everything in that I-80 accident including his truck.

There are so many trucks running and fudging their logs it isn't funny,.. EVERYONE who does this,.. might as well throw their truck and liability insurance out the window and into the trash can!. --- Not tryign to promote them,.. but Accurate E-logs contribute greatly towards stopping this,.. and stop the insurance companies form ripping us off so easily.