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  #11  
Old 10-17-2001, 04:22 PM
Scraper Scraper is offline
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Join Date: Feb 2000
Location: SE Pennsylvania
Posts: 1,655
TSG: Dude...relax...I was kidding.
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  #12  
Old 10-17-2001, 09:46 PM
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KirbysLawn KirbysLawn is offline
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Join Date: Jun 2000
Location: Just east of Charlotte, NC
Posts: 3,486
Sorry TSG, I have been busy and missed the post. It was very easy, I had the busines established by www.mycorporation.com and they did the rest, it was like $400 or so. I did all the "paperwork" about this time last year and had everything set up by 1/1/2001.

I am established as a "sub-s" corp and once I obtained the federal tax ID number I went to the bank and set up the checking. I did have the added expense of new envelopes, lettering, cards, and such but no big deal. When I started this year everything wa son a "clean slate", new software, new scheduling software, and such.

Hope that helps some.
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  #13  
Old 10-17-2001, 11:56 PM
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Lawn-Scapes Lawn-Scapes is offline
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Join Date: May 2001
Location: Maryland
Posts: 2,813
Clean slate...

Ray,

Did you have any business debt... truck, mowers, etc.. to carry over? How is this done?
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establishing roots in the community... www.mdlawns.com
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  #14  
Old 10-18-2001, 12:27 AM
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KirbysLawn KirbysLawn is offline
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Join Date: Jun 2000
Location: Just east of Charlotte, NC
Posts: 3,486
Since the truck and mowers were in my name I now lease them to the company. It bought the trailer and small stuff, new purchases are under the company only.
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  #15  
Old 10-18-2001, 09:45 AM
bruces bruces is offline
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Join Date: Jun 2001
Location: Independence, MO
Posts: 648
Re: ATTN: KirbysLawn

Quote:
Originally posted by TSG
I had a post on here about changing the business name and it got wiped out. You recently changed the name of your business.. right? I thinking of changing mine and want to know if it was a smooth transition? Did you call the bank and creditors to have them change the name? Did your have to close and open new accounts? Was it a pain in the...? What about book keeping... did you open a new company with your computer software? Please give me any info that I may overlook in the process... Thanks

Anyone else can answer too...
TSG,

If you go from a one person LLC or proprietorship to a corporation (regular or S corp), you can transfer assets and liabilities to the corporation in exchange for the stock in the corporation in a tax free transaction. See your accountant and attorney to make sure you do it right.

If you are just changing the name, no problem. You would need to change your DBA name or register a new one if you are registered with the state, and change you bank accounts, etc. In your software, you could probably just change the name in the software if you aren't changing the type of business entity.
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