Contract Pilots and LLC
02-20-2008, 01:26 PM
#1
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Thread Starter
Joined APC: Dec 2005
Posts: 38
Contract Pilots and LLC
I'm doing contract pilot services for two different companys. I am the named pilot on both their insurance policies, but should I form an LLC and do buisness as the LLC to provide additional protection? If anyone has experience with this I would love to pick your brain!
02-20-2008, 02:48 PM
#2
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Joined APC: Dec 2006
Posts: 21
I understand if you protect yourself under the llc, then the state you choose to form your corporation will dictate your liabilities under that law. Look into that for what you are doing. It's fairly easy and cheap to form your corporation.
On the other end the companies that have hired you may have you listed on their end as an " employee " so it could mean they are receiving better tax benefits, considering that you may choose to research this a bit more. If you do this by that incorporate and protect under the llc then you are a private contractor.
Insurance, you should really check into that b/c now you may have to provide self-insurance....this part I'm unsure about. I wouldn't know how this would apply into the airline industry.
cheers,
On the other end the companies that have hired you may have you listed on their end as an " employee " so it could mean they are receiving better tax benefits, considering that you may choose to research this a bit more. If you do this by that incorporate and protect under the llc then you are a private contractor.
Insurance, you should really check into that b/c now you may have to provide self-insurance....this part I'm unsure about. I wouldn't know how this would apply into the airline industry.
cheers,
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