I am engaged in contract engineering for validation of equipment and processes. I currently operate as a sole proprietor and I am ready to incorporate.
I think tax-wise my best choice is an S-corp. But I still have a question about liability.
A friend mentioned that S-corps do not insulate the individual shareholders as well as the LLC or C-corp structures and I am confused now. I want to understand better the liability protection offered by S-corp, LLC and C-corp structures. Can anyone offer me an explanation and comparison in a nutshell?
