PDA

View Full Version : New Company


quadracer_13
07-23-2008, 01:08 AM
I am looking to start lawn care business and have a few questions. I dont have any equipment yet and was wondering if i needed to have the equipment before i get started or can i get my EIN and all that so i can put all the equipment through my business? any advice would be great. thanks

Hortus
07-23-2008, 08:23 AM
Yes, forming your business structure first will help in the purchasing of your equipment and writeoffs for the year.

quadracer_13
07-23-2008, 06:10 PM
ok thanks. but also what is the difference in INC and LLC and do i need to get either one? Will it make anything easier?

VBsnow
07-24-2008, 12:09 PM
If I may, I would like to offer you the same advice someone gave me the first month I went in business: Get a qualified accountant.

I ignored this advice and paid for it.

EpicPaul
07-24-2008, 11:58 PM
i agree I paid for it too and no more headaches

prosoil
07-25-2008, 12:05 AM
The cheapest part of owning your business will be buying the equipment. If you are going to do it you have to jump in with both feet and not look back. There is no history tomorrow if you quit today.

quadracer_13
07-25-2008, 02:40 AM
is there any way to do that without using personal credit?

greenmonster304
07-25-2008, 08:33 AM
is there any way to do that without using personal credit?

i needed to buy a $11,000 irrigation pipe puller before my bussiness was formed so i got a personal loan from my bank and then two months later i got a bussiness loan (same bank) and my company bought the machine from me and paid off my personal loan.

quadracer_13
07-25-2008, 10:00 PM
o alright i gotcha