Incorporating?

[Soupy]

What is the best option for LCO's ? I'm thinking LLC but I want to hear what you guys are Incorporated under.

I know your going to tell me to call my Accountant, But she's on vacation until next Monday.

Thanks,
Soupy

[mtdman]

I have an LLC. The LLC, at least here in MI, gives you many of the benefits of incorporating such as a layer of liability protection, without all the hassles of keeping minutes and officers etc that an Inc needs.

I had a lawyer do mine, it was kinda complicated. Cost about $350.

Look on your state's website for more info about LLC in Illinois.

Good luck!

:D

[CamLand]

mtdmater check your pm mail..

[mtdman]

check yours, camland.

:D

[mower_babe]

we had our lawyer do it....only one word of advice - you need to ensure that you dissolve the previous business - even if you are going to operate under the same name, add inc, because IF YOU DO NOT - you will live in the personal hell that we have this year. Talk about problems with the IRS. Have you ever had the pleasure of waiting on the phone for a live IRS rep NO?!?! well, don't dissolve the business properly and you will have the pleasure of sitting on hold for an hour at a time - and have the ongoing drama and the penalties for this crazy crap. Good Luck - I think if I had to do it all over again - it was a waste to get incorporated at our size - jmo.

[Soupy]

mower_babe, What part of IL. are you in? And what typ of INC. did you use?

I'm in Belleville, 15 minutes east of St. Louis.

Soupy

[mower_babe]

We are an S corp.

I am not fooling about the dissolution of the business - you need to make sure of that --I --- U MEd that our well paid, high profile lawyer would take care of all loose ends. But that did not happen. I am on a first name basis with the Internal revenue service now. I am still INC, but kinda regretfully.:)

[Team Gopher]

Hi Soupy,

Here are two posts you may want to review.

Going Inc. ???????? (http://server2.lawnsite.com/showthread.php?s=&threadid=43626)

To Inc. or not (http://server2.lawnsite.com/showthread.php?s=&threadid=38293)

[mower_babe]

ok, now you edited the word "assumed." Has anyone ever heard assuming makes an --- out of you and me? I capitalized the letters that made my point and got edited. With all due respect moderators---good lord.:rolleyes:

[Soupy]

Mower_babe, Thanks for your advice, I will miake sure I dissolve the old business first.

I was wondering what the heck the --I---U MED meant. Now I know. If things keep going the way they are around here, I'm going to have to find another message board.

Soupy

[KenH]

Originally posted by mower_babe
ok, now you edited the word "assumed." Has anyone ever heard assuming makes an --- out of you and me? I capitalized the letters that made my point and got edited. With all due respect moderators---good lord.:rolleyes:

Its not the mods, its the auto sensor.

[mower_babe]

Well, I wouldnt dissolve it without the direction of an attty-just make sure it gets done - if there is good communication, you will be ok. Just keep good tabs on your identification numbers too on your booklets and statements sent to you by the irs.

(oh-my mistake mods - please forgive- thanks ken, i was starting to get paranoid. like big brother or something. thanks!)

[T. Matthews]

Hey everyone,

Please help I'm a little slow. What does LLC LCO stand for?

[T.E.]

Limited liability company

Lawn Care Operator

[mtdman]

What did you have to do to dissolve your previous business? Were you an INC before, partnership, or what? My lawyer just told me to quit using the old name and tax ID and go with the new stuff under my LLC. We were a partnership, before my partner quit. He gave me everything, just left.

[mower_babe]

sole proprietorship. same name, just added an "Inc.":)