- 15,041
In my view -- the reason for incorporation is both taxation AND to avoid personal liability. I'm offering health, life, & financial products. If someone wants to sue -- I'll bet they go after both E&O and would sue me personally to get at my personal assets. $1M isn't much when you look at healthcare 'situations'. Consult an attorney to see if an LLC or S-Corp can keep your assets safe.
Any attorney who tells you that a LLC or S-Corp will keep your assets safe when you personally screw up is an *** and should surrender his license. You are personally liable for every application you sign your name to. Now if you have an agency or a place of business, that is different. A corporation can help shield your personal assets from their actions or slip and falls, etc.