For many years entertainers and professional athletes have sought a device that can give some level of shielding of the income that they earn from endorsements, personal appearances and other income earning activities that lay outside of their primary professional work.  Over time a variety of mechanisms have been used for this purpose.  One of the most effective of these is the Personal Service Company, aka: The Loan Out Corporation.  Even though this device has specific benefits, there exist serious restrictions to its use.  This paper explores the complexities, benefits and drawbacks of this device. This is this second presentation on this topic by this author.  This presentation will focus on the ethical, legal and tax issues that confront those who use this kind of device.