Quote:
Originally Posted by DarkWhoppy
Joining OOIDA seems to be a good decision. Although, from what I see on their website they are geared towards owner-operators. My dad is moving from being an OO, to a small business owner. We've become an INC even though we're still small.
Is there any difference when signing up as an INC instead of an individual?
You're BETTER OFF forming a Sub-S Corp. At least you get a "little" shielding from personal liability. Though nowadays, at least CREDIT-WISE - personal guarantees are required unless you have a really good D&B rating, which is acquired though years of successful, financially responsible operation.
Even as a "leased on" owner of equipment, your dad has ALWAYS been a "small business owner". Obtaining his own authority simply makes him a CARRIER, rather than a lease-on operator.
OOIDA membership is a good thing, and the "process agent" benefit pays for the membership fee on it's own (at least the first year).
Keep reading, keep learning, keep on trucking...
Rick