Tag Archives: company

Smart Passive Income #191 & #192 – Why to start a Company

Pat’s reasoning on why to start your on company (or to found a company as legal entity different from yourself):

  • freedom (here he reasons why to be self employed, less about why to start a company …)
  • professionalism (company vs individual person)
  • protection to limit personal liability
  • tax advantages (vs employing an accountant 😉 )

His reasons for not starting a company are actually completly limited to reasons why not to be self employed:

  • you are responsible for everything
  • you have to schedule your own time
  • nobody provides benefits for you, you have to watch out for yourself

… and he lists the different kinds of business structures and their benefits … but as they are limited to the US and are most likely out of date … please, please, please … ask your local legal council …