I work full time in construction...i do security work on the side. i was thinking about incorporating.?

Question

i make about 15k a year on the side. is this a good idea. what would the benifits be and what are the risks?

Answer 1

Benefits are limited liability.  If you s***w up in providing security services, only the assets of the corporation would (probably) be at risk.  There are no real "risks".  There are some disadvantages (potentially) - more paperwork, have to file separate tax returns, costs a little to incorporate, etc.

Look in to an LLC if your state has those.  The paperwork is less and they'd give you the same advantages of a corporation.