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View Full Version : Help ho do I start


gabebella
04-16-2007, 02:33 PM
Put this question in to another thread, now trying here... Last year started with 4 lots, have decided to go out it hardcore. Was wondering how to get it started, was told I need a license to get discounts and tax breaks, Also who do I contact to get these license????

Tom c.
04-16-2007, 02:41 PM
See if your state has a website:division of taxation ,but first I would go see a lawyer and file for an llc or sole propriater. LLc is the way to go though. Then file for a tax id # and a fein. then get insurance. Then youll be good to go. The license wont get you any discounts but when you go to the landscape supply theyll give you a bussiness discount.

gabebella
04-16-2007, 02:44 PM
Thanks Tom...greta info I will check it out...what state are you aout of

Tom c.
04-16-2007, 07:34 PM
Im from New Jersey, I just went through the whole registration deal. Ive been part time. I just got registered a few weeks ago. You shouldnt have to much trouble getting set up then youll feel better! Id go with the LLC if you can that way you keep your family out of the bussiness in case something happens. Too many people are lawsuit happy!! Good Luck!!!!!

EGLC
04-16-2007, 08:37 PM
What is LLC?

gravtyklz
04-16-2007, 08:48 PM
Limited Liability Company

Basically it offers protections to the owner, or owners of a company. If an LLC is run correctly if your business ever nose dived the business would die and no one could ever come to you personally for money.

Some also say it will help you if you ever hurt did damage too, but i've heard that one is a little iffy.

There is no tax benefit to it though unless you also elect to become an S-Corp.

A lot of people become an LLC, but dont run themselves as an LLC so its really worthless. If for instance your business nose dived and you couldnt pay for a few mowers, and a truck your company took credit on..... in the case you ran your LLC by the rules then no one could make you personally pay for those things, but if you didnt play by the LLC rules you would most likely be paying for those things your self. Thats also known as "piercing the corporate veil."

Theres tons of stuff online about LLC.

One thing I would also encourage anyone to do who is starting a business is to have an accountant check on your stuff once you get it started. It wont cost much in the long run if you run your business correctly.