[nycbug-talk] Getting started in Consulting

[Francisco Reyes]

On Sat, 4 Jun 2005, Charles Sprickman wrote:

> For those that do admin/programming stuff, I have no idea what the 
> benefits are.  I've never been asked by a client if I had any type of 
> insurance though, for whatever that's worth.

I have no insurance, but run my business as a corporation. It allows a 
minimal level of protection in that if you are sued, it is the corporation 
that will go bankrupt and not you. That doesn't always work depending on 
what whent wrong.. and NOTHING can protect you against uncle sam.. so make 
sure you have a good accountant.. corporation, LLC, partnership.. no 
matter.. the tax man will get it's money even if they have to pawn your 
underwear to get it. :-)

If one has a good business then I think liability insurance will be a good 
idea. On my case if I have to close my corp because of a law suit I, in 
theory, would just open another.. it's not like I have a whole lot of 
money at my companie's bank account. :-(