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CPAnet Forum : BEC STUDY GROUP

Topic: Professional corp (

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amii
Major Contributor

Joined: 07 Feb 2008
Location: United States
Online Status: Offline
Posts: 345

Posted: 28 Jun 2008 at 17:02 \| IP Logged

Why do professional choose "professional Corp" over Limited Lia Comp.? As under the professional corp , their negligence will lead to personal liability. both can be taxed like Corp.

Plz explain.

jlafber
Newbie
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Joined: 12 Jun 2008
Location: United States
Online Status: Offline
Posts: 11

Posted: 17 Jul 2008 at 17:37 \| IP Logged

Its important to remember that an individual is responsible for their own negligence regardless of the entity.

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