Asclepias
Diamond Member
Sounds to me like you have a quota. If they can fire you then you arent the owner.S-corps don't give you much in the way of legal protection from personal liability. Odds are you do not do the legal necessities to do that, and more importantly, in many jurisdictions, a single owner of an S-corp is deemed so synonymous with the corporate entity, that you will personally be held liable for all but perhaps simple negligence claims.
Yes I can be held liable. The s-corp filing helps the parent company not really me. This is why I carry business insurance and do extensive background checks and train people how to do no pressure sales.
A lot of S-corp owners would be better going with the LLC because of the record keeping requirements being higher for the S-corp. I would not be surprised if truth be told, 99.9% of single owner S-corps' corporate books are defective because they do not have annual meetings with the appropriate recorded notices, etc. There is not practical need for them, but the law does require them as part of the liability shield. LLC were basically created I think so lawyers would stop banging their heads on their desks when an S-corp was their client.
I would LOVE to be an LLC, but the Kirby company says no Kirby distributor can be in business unless they are an s-corp. I don't have a choice. I agree with you, though.
That is it, you are a distributor, not an owner.
I am an owner and distributor. See thre Kirby company can't fire me unless I sell less than 30 a month. I sell 500+. they also can't tell me what to do.