CompuServe Messages

#Which deck is better

    05-Oct-93 20:03:33
Fm: Bailey Brown 73020,3442
To: Don Landis 71673,3612
Don, It was my impression that, in a sole-proprietership, you are the business, and you cannot lend money to yourself. On the otherhand, if you start an S-corporation where you are the sole stockholder, then you can do this because the corporation is a separate entity. I will be starting an S-corporation as soon as I get enough receipts to pay for the overhead of incorporation. Please tell me if I am wrong, I really don't know a whole lot about business practices. I finally contacted a CPA this morning who was recommended to me and she basically told me to hold onto all receipts, make a list of all the stuff I've bought for the business, do as much of the business as posible using my commercial checking account, and meet with her around the first of December. I'm supposed to meet with my first real live paying customer Wednesday. Wish me luck! Bailey