I recently wrote about picking an entity and the decision to incorporate. Another letter over at June Walker asks her for some advice after her friend tells her that there are advantages to incorporation. This reminds me of the scene in Ocean’s 13 where Brad Pitt’s character is teaching Topher Grace, playing himself, how to play poker:
Topher Grace: Hey Rus, let me ask you a question. Are you incorporated? Well, if not you should really think about it cos I was talking to my manager…
Rusty: Bernie?
Topher Grace: No, not Bernie, my business manager. You know what? They’re both named Bernie. Anyway, he was saying that because what we do here is kind of like research for a future like gig or whatever I can totally make it a tax write off. The only thing is I’d have to pay you by check.
[Rusty stops and looks at him]
Topher Grace: Or we could stick to cash
[Rusty nods]
Topher Grace: You know what? Yeah, let’s just stick to cash.
Sometimes it’s great idea to incorporate, and sometimes it’s just better to stick with cash.
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