I'm the only one with common sense here

[Asclepias]

S-corps don't give you much in the way of legal protection from personal liability. Odds are you do not do the legal necessities to do that, and more importantly, in many jurisdictions, a single owner of an S-corp is deemed so synonymous with the corporate entity, that you will personally be held liable for all but perhaps simple negligence claims.

Yes I can be held liable. The s-corp filing helps the parent company not really me. This is why I carry business insurance and do extensive background checks and train people how to do no pressure sales.

A lot of S-corp owners would be better going with the LLC because of the record keeping requirements being higher for the S-corp. I would not be surprised if truth be told, 99.9% of single owner S-corps' corporate books are defective because they do not have annual meetings with the appropriate recorded notices, etc. There is not practical need for them, but the law does require them as part of the liability shield. LLC were basically created I think so lawyers would stop banging their heads on their desks when an S-corp was their client.

I would LOVE to be an LLC, but the Kirby company says no Kirby distributor can be in business unless they are an s-corp. I don't have a choice. I agree with you, though.

That is it, you are a distributor, not an owner.

I am an owner and distributor. See thre Kirby company can't fire me unless I sell less than 30 a month. I sell 500+. they also can't tell me what to do.

Sounds to me like you have a quota. If they can fire you then you arent the owner.

 

[Judicial review]

This is from Kirby:

Kirby Sales Careers Kirby Business Opportunities

yes, a dealer is considered the bottom of the food chain.

Well then, you just acknowledged you aren't an owner. Good night.

Dealers are the sole propriotors and haven't earned the right to be distributors. When you make the transition you turn into an s-corp.

 

[sameech]

That is it, you are a dealer, not an owner.

From what I have read, the dealers are the ones who do the financing which is where their real windfall comes from.

 

[Judicial review]

That is it, you are a dealer, not an owner.

From what I have read, the dealers are the ones who do the financing which is where their real windfall comes from.

What financing?

 

[TemplarKormac]

You are a franchisee, not an owner. I can repeat that over and over and over.

Yes I'm the owner of a franchise that's part of the kirby company. A lot different then being a franchise owner of a subway.

You are not a franchisor. You are a franchisee. Your S-Corporation is meant to protect the franchisors. You are nothing but a minion who knocks on doors to sell an overpriced product to the masses.

 

[Judicial review]

You are a franchisee, not an owner. I can repeat that over and over and over.

Yes I'm the owner of a franchise that's part of the kirby company. A lot different then being a franchise owner of a subway.

You are not a franchisor. You are a franchisee. Your S-Corporation is meant to protect the franchisors. You are nothing but a minion who knocks on doors to sell an overpriced product to the masses.

Actually it's under priced. I own a business with my own business entity name that is not called Kirby, and I'm also the DS of my division. Also known as divisional supervisor. I do have the power to kick distributors who don't meet the 30 sales and demote them. I'm the 3rd ranked executive in the Kirby company along with a few others. The VP and president are the only ones above me.

Wow are you jealous!

 

[TemplarKormac]

That is it, you are a dealer, not an owner.

From what I have read, the dealers are the ones who do the financing which is where their real windfall comes from.

At least for him, there is no financing involved, and investment isn't necessary. Basically he is an independent dealer who shields his parent company from any liability. If the company screws up, he's the one who gets sued; he is the bulletproof vest. In short, he is an employee; a franchisee, not a real owner. The law sees him as an owner, but his company does not.

 

[TemplarKormac]

You are a franchisee, not an owner. I can repeat that over and over and over.

Yes I'm the owner of a franchise that's part of the kirby company. A lot different then being a franchise owner of a subway.

You are not a franchisor. You are a franchisee. Your S-Corporation is meant to protect the franchisors. You are nothing but a minion who knocks on doors to sell an overpriced product to the masses.

Actually it's under priced. I own a business with my own business entity name that is not called Kirby, and I'm also the DS of my division. Also known as divisional supervisor. I do have the power to kick distributors who don't meet the 30 sales and demote them. I'm the 3rd ranked executive in the Kirby company along with a few others. The VP and president are the only ones above me.

Wow are you jealous!

Wow, I'd really love to have a job selling overpriced vacuum cleaners. Please, spare me.

 

[TemplarKormac]

One other thing, being a divisional supervisor makes you an employee, not an owner

 

[Judicial review]

That is it, you are a dealer, not an owner.

From what I have read, the dealers are the ones who do the financing which is where their real windfall comes from.

At least for him, there is no financing involved, and investment isn't necessary. Basically he is an independent dealer who shields his parent company from any liability. If the company screws up, he's the one who gets sued; he is the bulletproof vest. In short, he is an employee; a franchisee, not a real owner. The law sees him as an owner, but his company does not.

That's not how it works. You have it ass backwords. If one of the 1099 dealers I have screws up and the distributor doesn't have any money, then they usually go after the Kirby Co, which is a long shot. They have only been sued 2 times in 100 years. Successfully.

 

[Judicial review]

You are a franchisee, not an owner. I can repeat that over and over and over.

Yes I'm the owner of a franchise that's part of the kirby company. A lot different then being a franchise owner of a subway.

You are not a franchisor. You are a franchisee. Your S-Corporation is meant to protect the franchisors. You are nothing but a minion who knocks on doors to sell an overpriced product to the masses.

Actually it's under priced. I own a business with my own business entity name that is not called Kirby, and I'm also the DS of my division. Also known as divisional supervisor. I do have the power to kick distributors who don't meet the 30 sales and demote them. I'm the 3rd ranked executive in the Kirby company along with a few others. The VP and president are the only ones above me.

Wow are you jealous!

Wow, I'd really love to have a job selling overpriced vacuum cleaners. Please, spare me.

You wouldn't want to make 2600 in 3.5 hours of work? Yeah, ok.... LOL.

 

[Judicial review]

One other thing, being a divisional supervisor makes you an employee, not an owner

As the distributor I'm both the owner and employee. As the DS it's the same as having 2 separate jobs at the same time in the same parent company. I will agree with you as the DS I'm more of an employee.

 

[TemplarKormac]

I'm the 3rd ranked executive in the Kirby company along with a few others.

So, you are the CFO? I can scarcely believe that claim.

 

[TemplarKormac]

You are a franchisee, not an owner. I can repeat that over and over and over.

Yes I'm the owner of a franchise that's part of the kirby company. A lot different then being a franchise owner of a subway.

You are not a franchisor. You are a franchisee. Your S-Corporation is meant to protect the franchisors. You are nothing but a minion who knocks on doors to sell an overpriced product to the masses.

Actually it's under priced. I own a business with my own business entity name that is not called Kirby, and I'm also the DS of my division. Also known as divisional supervisor. I do have the power to kick distributors who don't meet the 30 sales and demote them. I'm the 3rd ranked executive in the Kirby company along with a few others. The VP and president are the only ones above me.

Wow are you jealous!

Wow, I'd really love to have a job selling overpriced vacuum cleaners. Please, spare me.

You wouldn't want to make 2600 in 3.5 hours of work? Yeah, ok.... LOL.

No.

 

[TemplarKormac]

As the owner I'm both the owner and employee.

Only the law recognizes you as an owner, but according to your company you are not. You must own actual stock in the company to be a real owner, which you are not. That is proven here:

Kirby Sales Careers Why Sell Kirby Systems

 

[Judicial review]

I'm the 3rd ranked executive in the Kirby company along with a few others.

So, you are the CFO? I can scarcely believe that claim.

We have 5 divisions in the USA, I'm the DS or head of one of them. I was picked because my family has been in this business longer than anybody in the company. Since the 50's. DS's are the ones who are usually picked to replace the current President. We have 2 presidents. 1 for the USA and 1 for international or every one of the 54 countries not named USA. I oversee all business operations, schedule all meetings, sales rally's, and trips, and report to the VP and P. My job is to increase sales in my division.

 

[Judicial review]

Yes I'm the owner of a franchise that's part of the kirby company. A lot different then being a franchise owner of a subway.

You are not a franchisor. You are a franchisee. Your S-Corporation is meant to protect the franchisors. You are nothing but a minion who knocks on doors to sell an overpriced product to the masses.

Actually it's under priced. I own a business with my own business entity name that is not called Kirby, and I'm also the DS of my division. Also known as divisional supervisor. I do have the power to kick distributors who don't meet the 30 sales and demote them. I'm the 3rd ranked executive in the Kirby company along with a few others. The VP and president are the only ones above me.

Wow are you jealous!

Wow, I'd really love to have a job selling overpriced vacuum cleaners. Please, spare me.

You wouldn't want to make 2600 in 3.5 hours of work? Yeah, ok.... LOL.

No.

Bullshit.

 

[Judicial review]

As the owner I'm both the owner and employee.

Only the law recognizes you as an owner, but according to your company you are not. You must own actual stock in the company to be a real owner, which you are not. That is proven here:

Kirby Sales Careers Why Sell Kirby Systems

I own Birkshire hatheway stock from warren Buffet which owns the scott fizer company which owns Kirby. I own the stock from the company that owns the Kirby company. It's also the most expensive stock in the market. It's the 1 stock worth looking up and seeing how much per share.

 

[TemplarKormac]

You are not a franchisor. You are a franchisee. Your S-Corporation is meant to protect the franchisors. You are nothing but a minion who knocks on doors to sell an overpriced product to the masses.

Actually it's under priced. I own a business with my own business entity name that is not called Kirby, and I'm also the DS of my division. Also known as divisional supervisor. I do have the power to kick distributors who don't meet the 30 sales and demote them. I'm the 3rd ranked executive in the Kirby company along with a few others. The VP and president are the only ones above me.

Wow are you jealous!

Wow, I'd really love to have a job selling overpriced vacuum cleaners. Please, spare me.

You wouldn't want to make 2600 in 3.5 hours of work? Yeah, ok.... LOL.

No.

Bullshit.

Really? Your company is dishonest. You sell used vacuum cleaners as new (which violates Federal RICO laws regarding racketeering) the WSJ says you sold them at four times the market value. No, I'd rather not make a living cheating people out of their money.

 

[TemplarKormac]

As the owner I'm both the owner and employee.

Only the law recognizes you as an owner, but according to your company you are not. You must own actual stock in the company to be a real owner, which you are not. That is proven here:

Kirby Sales Careers Why Sell Kirby Systems

I own Birkshire hatheway stock from warren Buffet which owns the scott fizer company which owns Kirby. I own the stock from the company that owns the Kirby company. It's also the most expensive stock in the market. It's the 1 stock worth looking up and seeing how much per share.

Owning stock in Hatheway does not mean you own stock in Kirby. You have been mislead, friend. Its like saying "I have a friend of a friend of a friend who knows a friend of a friend of a friend who met the President."

No sir. Now, have a good night.