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I've even employed full time staff as a sole trader in Australia and never found it a hindrance in getting work. My accountant always told me to avoid incoporat
by dools 14y ago
I've even employed full time staff as a sole trader in Australia and never found it a hindrance in getting work. My accountant always told me to avoid incoporation until I was consistently netting over $100k because having a company is such a headache. So I'd tend to agree with the OP but I'd also say get a few professional opinions and especially make sure they're relevant to your country of operation!
- tptacek 14y agoI have no idea why Australia would be this warped, but that is ludicrous advice in the US. If you're grossing over $100k, your liability exposure has doubtless scaled with your receivables. Businesses routinely experience abrupt downturns. For the sake of less than 0.1% of revenues, you'd have that exposure attach to your house? Insane.
- rprasad 14y agoIt's a headache for your accountant for you to incorporate. However, it's a nightmare for you if you don't. Don't let his laziness put your finances in jeopardy. I strongly suggest you find another accountant, because your current guy will get you screwed over when the tax man comes to collect.