I'm just starting out as an independent consultant in oil and gas drilling. I'm not sure if I should Incorporate or go with LLC. It is just my wife and I at home. I travel for my work using my vehicle, and my office is in my home.
1 Answer from Attorneys
An LLC is in fact a corporation. The benefits of incorporation are many. The most important reason for most people is the segregation of assets. A kind of cheap insurance. Corporate assets can be seized if the corporation has a judgment levied against it. But private assets cannot be seized under the same set of facts. Since you travel it might be a good idea to put the vehicle (and vehicle insurance) into the corporation.
DISCLAIMER This answer is for informational purposes only and discusses general legal principles, trends, and considerations and is not intended as specific legal advice regarding your question. This answer does not establish an attorney client relationship. http://www.garycjohnsonlaw.com 720-323-3776
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