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Grits
04-18-2007, 10:37 PM
I had a meeting with my accountant today. He is setting me up as an LLC, finally. Pretty excited about making the switch from Sole Prop. to LLC. Seems more like a real company, ya know. Just thought I would share.

Raven386
04-18-2007, 11:10 PM
congrats! now you can get double for wearing that cape! Good luck this season.

gravtyklz
04-18-2007, 11:56 PM
I had a meeting with my accountant today. He is setting me up as an LLC, finally. Pretty excited about making the switch from Sole Prop. to LLC. Seems more like a real company, ya know. Just thought I would share.

Well even as an LLC you can be taxed as a Sole Prop. Is he going to get you set up as an S-Corp or something too? If he/she hasnt discussed that with you then it would be a good thing to discuss. Some people save a lot of $$ like that. Its also good additional liablitiy protection.

SongBird LawnCare
04-19-2007, 12:01 AM
congradulations..

that cape is fresh too...

lol

WJW Lawn
04-19-2007, 07:01 AM
He may get taxed as an Sole Prop- LLC...but its like Grits said...he'll feel more like a real company. LLC has good liability protection too as long as his lawyer sets it up well and he treats it as a complete seperate entity. Being an S-corp doesnt mean you're immune from lawsuit...nothing completely protects you from that.

TSG
04-19-2007, 07:33 AM
If your Acct doesn't elect S Corp,,,get a new Acct...The tax benifits
are better as an S corp.
Get your Attorney and Acct in the same room
It isn't how much you make
It is how much you keep
Just .02
Alan

NELawnCare
04-19-2007, 08:07 AM
I had a meeting with my accountant today. He is setting me up as an LLC, finally. Pretty excited about making the switch from Sole Prop. to LLC. Seems more like a real company, ya know. Just thought I would share.

One thing that LLC status does help with is commercial contracts. Even more so with state or federal government contracts. Government procurement agents are more likely to do business with small businesses that are LLCs.

I am an LLC and in the state of WI an single-member LLC is the same as a sole-proprietor. So, from a tax advantage...that's good.

martinfan06
04-19-2007, 09:05 AM
Great news Grits :weightlifter: :weightlifter:

bohiaa
04-19-2007, 09:52 AM
I want a cape like that............

NELawnCare
04-19-2007, 10:14 AM
http://www.gifs.net/Animation11/Creatures_and_Cartoons/Super_Heroes/Baby_hero.gif

Grits
04-19-2007, 11:03 AM
Well even as an LLC you can be taxed as a Sole Prop. Is he going to get you set up as an S-Corp or something too? If he/she hasnt discussed that with you then it would be a good thing to discuss. Some people save a lot of $$ like that. Its also good additional liablitiy protection.

Yes, he setting it up for taxes as an S-Corp. for better tax benefits. He explained it all to me, but it gets a little confusing. But after he does what he has to do and gets everything squared away, he said we will have a "sit-down" and go over everthing.

Grits
04-19-2007, 11:05 AM
congrats! now you can get double for wearing that cape! Good luck this season.

I am currently make quite a bit more for the cape. I am thinking once I get LLC stitched on the back of it in really big letters, I should be making quite a bit more.:cool2:

Thanks! Good luck to you too!:drinkup:

Grits
04-19-2007, 11:06 AM
congradulations..

that cape is fresh too...

lol

The ladies LOVE it!

Grits
04-19-2007, 11:08 AM
Great news Grits :weightlifter: :weightlifter:

Thanks! Always trying to improve!

Grits
04-19-2007, 11:09 AM
I want a cape like that............

They don't just give them out to anybody.....but I'll put in a good word for you.

Grits
04-19-2007, 11:11 AM
http://www.gifs.net/Animation11/Creatures_and_Cartoons/Super_Heroes/Baby_hero.gif

I see someone took one of my baby pics and created an animated GIF.

gravtyklz
04-19-2007, 02:34 PM
Yes, he setting it up for taxes as an S-Corp. for better tax benefits. He explained it all to me, but it gets a little confusing. But after he does what he has to do and gets everything squared away, he said we will have a "sit-down" and go over everthing.

Your Accountant is good then! When we first became an S-Corp my accountant did the paper work for the government and just let us go. Then I buy a book on S-Corps because im more interested almost a year later....and wow.....we had been acting far far far from being an S-Corp.....

I think I need a new accountant. I asked him some questions about some of the procedures an S-Corp has to go through, and he replied something like, "oh well if you want to do it that way go ahead"

I would much rather have someone drown me with info than just act like it doesnt matter. So Kudos to your accountant :drinkup:

Grits
04-19-2007, 05:05 PM
Your Accountant is good then! When we first became an S-Corp my accountant did the paper work for the government and just let us go. Then I buy a book on S-Corps because im more interested almost a year later....and wow.....we had been acting far far far from being an S-Corp.....

I think I need a new accountant. I asked him some questions about some of the procedures an S-Corp has to go through, and he replied something like, "oh well if you want to do it that way go ahead"

I would much rather have someone drown me with info than just act like it doesnt matter. So Kudos to your accountant :drinkup:

He is great! He is a book of knowledge that seems to acutally like what he does and likes helping small businesses. All this and affordable too!
I think it may be because he is retired military. Marines and Navy. He's cool. A tough older guy with a hell of a sense of humor and strong opinions on such topics as American Government, financial institutes, illegal immigrants and many other things. I get quite the kick out of it when he gets on-a-roll about a subject.
He doesn't have to work, he likes the accounting gig and gets a kick out of it.

Raven386
04-20-2007, 06:22 PM
They don't just give them out to anybody.....but I'll put in a good word for you.

wheres my cape? ive been asking for months and months now!!!!

Grits
04-21-2007, 12:58 AM
wheres my cape? ive been asking for months and months now!!!!

You haven't sent me your measurements yet. It is best to get measured by a tailor. A good tailor can make the cape very flattering to one's figure.

Grits
04-21-2007, 01:01 AM
Oh yeah. Everything went through and I am now an LLC / S-Corp. Accountant and I are to have a meeting when he gets the Articles of Incorporation (?) in. We will be going over everything that I am supposed to do to have the best benefits. Exciting times.

Raven386
04-22-2007, 10:03 PM
congrats!! :drinkup: :drinkup:

Grits
04-22-2007, 10:49 PM
congrats!! :drinkup: :drinkup:

Thanks!!!!!!