#Which deck is better
05-Oct-93 20:03:33
Sb: #60164-#Which deck is better
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