Speaking of corporations

[sea-tax]

BB first off " about time!" Nice to see ya again. Hopefully you will start with your soutthern home spun stories soon.

I don't think you will have any probelm with the situation which you presented .

As for why people form LLC and then elect s status. Who really know's. Most likely like some have said here idea of protection(even if overstated), because lawyers can, or simply to help client see that keeping business separate from personal is the way to go.

I think it is because that is what they talk about on msn, cnn , money mag and all those other news sources. Like investments people want to be hip and seem as though they know what is going on. So they try toreplicate what Joe Schmo reporter says to keep up with the Johnson's.

I once heard an sttorney state that he does it because then the business doesn't have to comply with all the admin duties of a regualar corp like minutes , shareholder agreement , and stock issuance. I personally do not buy that arguement but that is what this big shot attorney in seattle told us at a seminar.

[Black Bart]

Hey there, NorthwestMan (sea-tax)

All good points you and others make, plus the SurferDude (jainen) is probably right about the lack of protection. I don't think there is any final and definitive say about what is enough protection. I once asked a lawyer about it (incorporating) and he said it was best to just buy a million dollar liability policy in addition to whatever else you do because when he sued, he named the business, the owner and/or officers, spouse, anyone associated in any way, plus the family dog and everybody else in sight. Too, juries don't know anything about LLCs or S corporations and what they're supposed to limit or not limit.

One of my ex-clients, a devout womanizer, always maintained that you could never use too much English Leather. Using his theory that more is always better, I guess I'll keep the LLC to go with the S corporation.

[veritas]

That's were I went wrong. I always used Jade East.

[Black Bart]

sea-tax

Jade East? Never heard of it. Good stuff, I assume. That's what comes from me livin' so far back in the sticks. After moving from high school days' Old Spice up to English Leather, I didn't know there was anything classier to go to.

Sure have a lot of new folks on the board. Are most of them ATX people?

[sea-tax]

Jade East? Never heard of it. Good stuff, I assume. That's what comes from me livin' so far back in the sticks. After moving from high school days' Old Spice up to English Leather, I didn't know there was anything classier to go to.

Sure have a lot of new folks on the board. Are most of them ATX people?

Yeah a lot of them are from atx. Why BB are you going to hold it against them?

[sea-tax]

BB so are you going to say where you actually were the whole time.
We had a little pot going and I guessed you had been captured by Captian Hook!

[Black Bart]

Not at all.

I'm signing up with ATX again this year.

But one thing I didn't like the first year that I bought their package was that somehow they flooded my email inbox with hundreds of ATX clients' posting to each other. It wouldn't have been so bad, but everytime I called support they wanted to send me an email reply. That's not a viable means of problem-solving, but even it had been, you couldn't find their answers among all those posts.

[veritas]

Jade East? Never heard of it. Good stuff, I assume. That's what comes from me livin' so far back in the sticks. After moving from high school days' Old Spice up to English Leather, I didn't know there was anything classier to go to.

Sure have a lot of new folks on the board. Are most of them ATX people?

Pretty popular stuff from the 60s. Sure is good to have you back. All that tax stuff was getting me down. I was day dreaming (while having a nice cigar) today thinking about our incumbent Governor getting reelected. Is there some good property for sale in your neck of the woods? It would be great to live in a red state for a change.

I think several new folks are ATXers. IF we can get KCJenkins over here they will all come over.

[sea-tax]

I'm signing up with ATX again this year.

But one thing I didn't like the first year that I bought their package was that somehow they flooded my email inbox with hundreds of ATX clients' posting to each other. It wouldn't have been so bad, but everytime I called support they wanted to send me an email reply. That's not a viable means of problem-solving, but even it had been, you couldn't find their answers among all those posts.

Call up PROSERIES they are offering a pretty wizbang deal if you are an ATXER that wants to convert. Next best thing to Lacerte

[Black Bart]

Actually, I didn't "go" anywhere.

BB so are you going to say where you actually were the whole time.
We had a little pot going and I guessed you had been captured by Captian Hook!

Yeah, I saw some speculations about that. I was around and checked in on the board quite a bit -- just couldn't think of anything to say. Besides, there needs to be some talk about tax on a tax board every now and then.

[sea-tax]

Yeah, I saw some speculations about that. I was around and checked in on the board quite a bit -- just couldn't think of anything to say. Besides, there needs to be some talk about tax on a tax board every now and then.

Well I guess it was OLD JAck or Bird Legs or Bees that took that guess. One of them said you were around just looking.

[Black Bart]

Veritas - Cigars and conservatives

Pretty popular stuff from the 60s. Sure is good to have you back. All that tax stuff was getting me down. I was day dreaming (while having a nice cigar) today thinking about our incumbent Governor getting reelected. Is there some good property for sale in your neck of the woods? It would be great to live in a red state for a change.

Nice to be back and nice to hear from you again. Re: cigars; I used to smoke them some during my younger days. Say, do you happen to remember the name of those smaller ones that had a wood-tipped mouthpiece on them? What was that brand?

About red states -- I like some of the politics, but we've got an 8.25% sales tax and y'all have none, so you're okay where you're at.

[sea-tax]

Nice to be back and nice to hear from you again. Re: cigars; I used to smoke them some during my younger days. Say, do you happen to remember the name of those smaller ones that had a wood-tipped mouthpiece on them? What was that brand?

About red states -- I like some of the politics, but we've got an 8.25% sales tax and y'all have none, so you're okay where you're at.

I think the cigars were called Swisher Sweets!

[sea-tax]

Pretty popular stuff from the 60s. Sure is good to have you back. All that tax stuff was getting me down. I was day dreaming (while having a nice cigar) today thinking about our incumbent Governor getting reelected. Is there some good property for sale in your neck of the woods? It would be great to live in a red state for a change.

I think several new folks are ATXers. IF we can get KCJenkins over here they will all come over.

You think you have it bad in Oregon try living here with Cantwell, Murray, and Gregoire.

[Black Bart]

Tax Programs

Call up PROSERIES they are offering a pretty wizbang deal if you are an ATXER that wants to convert. Next best thing to Lacerte

That sounds pretty good, but I'd just about rather take a beating than switch tax software UNLESS I could get back with Lacerte again. They priced me out their market about three years ago, but I'd really like to have them back. They were just soooooo fool-proof and I'm one that needs "proofing."

What tax program are you running? And Veritas -- what are you using?

Also, how's your stock business? I know you and Veritas are both "investment bankers," I believe is the term. Hope y'all are doing well with that.