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  #21  
Old 07-09-2013, 11:30 AM
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SchannaultROLC SchannaultROLC is offline
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I guess it just comes down to what you want to do with your business. If you just want to make a couple bucks on the side and not worry to much, then I guess you'll be okay. I'm just saying there are reason's for certain things.
The EIN, whether you need it or not, is nice to have. It's free to get and you can do it online. It's nice to have when it comes to mapping your taxes and write offs. It helps the IRS when it comes to your bank accts, and things such as insurance purchased through your company.
I just cant see how you can be a company that wants to grow without some sort of legal formation from the start.
As long as you are talking with a CPA then that's all that matters, its better than anything on here.
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  #22  
Old 07-09-2013, 11:37 AM
Rll131 Rll131 is offline
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Believe me I'm beyond confused at the moment. I'm hoping tomorrows apt will be much more informative. I basically want to have 30-50 lawns a week solo and that's it nothing more nothing less. But I also don't want to get into any IRS trouble or trouble if something should happen on the job for instance rock through a window. Here's a question will commercial properties not hire because I'm not a llc currently? I'm only up to 15 accounts rot now but plan on going full time the golf course I was at closed down.
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  #23  
Old 07-09-2013, 11:42 AM
TTS TTS is offline
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You and the IRS are generally the only people who know or care what your business formation is. Commercial accounts care about reliability, price, and insurance.
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  #24  
Old 07-09-2013, 11:48 AM
TTS TTS is offline
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That said it will be easier to sell s commercial account on a business name but its possible to get them without
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  #25  
Old 07-09-2013, 11:48 AM
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SomervilleLawncare SomervilleLawncare is offline
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Many commercial jobs will not hire you without a million dollars in general liability, some will also not hire you without an EIN.

I would personally setup a Business name, LLC, separate business checking account, general liability, commercial auto, and file for an EIN. You might not need all of it where you live, but I'd sure feel better having it.

Customers will also take you much more serious if you have a business name. I wish you the best of luck!
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  #26  
Old 07-09-2013, 11:53 AM
TTS TTS is offline
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Quote:
Originally Posted by SomervilleLawncare View Post
Many commercial jobs will not hire you without a million dollars in general liability, some will also not hire you without an EIN.

I would personally setup a Business name, LLC, separate business checking account, general liability, commercial auto, and file for an EIN. You might not need all of it where you live, but I'd sure feel better having it.

Customers will also take you much more serious if you have a business name. I wish you the best of luck!
I should point out, this is also what I would recommend but not the minimum required to be "legit"
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  #27  
Old 07-09-2013, 12:22 PM
Rll131 Rll131 is offline
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Thanks for the help you guys have been more informative then the CPA. The way I'm looking at it now is barely any money out of pocket to set up a llc Ein insurance so I mine as well do it now where do I set up a llc and Ein and what's the diffrence with a llc and sole prop? I'm sure ill find this out all tomorrow as I'm writing down questions to ask going to be more prepared. I have a pt with insurance at 1:30 so ill find out what they say also. Again you guys have been gre at
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  #28  
Old 07-09-2013, 12:31 PM
Rll131 Rll131 is offline
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One more thing I should add I live in md but I would say 30-40% of business is in delaware also does that change anything.
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  #29  
Old 07-09-2013, 02:04 PM
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That would be good to mention to the CPA. Some things only pertain to the location of the business and some pertain to where the work is performed
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  #30  
Old 07-09-2013, 03:05 PM
RR_WA RR_WA is offline
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For a small solo guy, a one man show - I would recommend either setting up a DBA or just using your own name - both mean you are a "sole proprietor" . A DBA doesn't mean anything, it is just a made-up-name, but will make you look more legit to people who think you need a "business name" to do business. This DBA will also enable you to get a business bank account in that DBA name, and then you can accept checks as the business DBA name. Note: there is a drawback to this. It is that banks charges all kinds of extra fees for business accounts that they do not charge for personal accounts.

Setting up an LLC is just going to complicate things even more, and is not adding any value for you as I believe it will not offer you any liability protection in your scenario.

So, my advice for you-a person who wants to build a small lawn care business...is get a DBA, put it on your business cards...it will make you look more legit than your own name.
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