View Full Version : Do I need License? What else??
10-10-2009, 09:04 AM
Hi, I have been in the business for about 3 years now but this is my first season on my own. Currently, I have a full time job where I work 4 days a week. This leaves me the weekend for maintaining a few yards to supplement my income. I really want to set everything up properly, here are my questions:
I have my DBA filed with the county, do I also need a business license [Indiana]?
What type of insurance should i look for as I will only maintain no more than 20 accounts?
Any recommendations for how to maintain books for taxes?
I appreciate any help.
10-10-2009, 06:04 PM
Wow starting with the basics.
First thing is find a accountant. And set up a interview and ask all the questions.
Probably your county has a occupational license requirement. so you need to start there.
Ask your tax collector office. All businesses require one usually.
Then you need to find out if you work in another county than your office base you may need one. Again call the tax collector in the other county.
Then be prepared to pay taxes in your county you are based out of for your equipment.
Again your accountant can advise you on what is required locally.
Then you need to find a insurance agent that deals with commercial insurance.
Very basic you may not be required to have insurance in your area. But at the very least you should consider liability and commercial vehicle.
Then if you hire employees you need to consider workman's comp insurance. Then take a trip back to the accountant to discuss tax withholding,unemployment Insurance(Tax)
10-10-2009, 08:09 PM
Thanks for the information. Since I'm only doing this part time and operating as a sole proprietorship, do I have to do all the tax ID stuff, I was thinking of doing a schedule c? I know this is probably mostly accountant stuff.
10-10-2009, 08:46 PM
Well you will do a schedule c as a DBA
But included in that is things like depreciation
I guess you are looking for a out and there is none,
Look for a accountant. call on other competitors and see who they use.
You really need to set up a interview with one.
I can't figure how you made it three years with out a accountant?
If you are asking questions on things such as bookkeeping and Tax Id stuff you need to talk to one.
You can always goto http://www.irs.gov/ and find the info on your own.
10-10-2009, 09:07 PM
Yeah, I'm not looking for an out and most of this I already know...I was really wanting to know more about the licensing thing. I've been doing some research on Indiana.gov and come to find out they are pretty relaxed on the license stuff. How I have it set up now is basically what they recommend. This is my first year in business. Thanks for your help n time.
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