im new and need help

[DMLawns]

Hey,
Im turning 16 and planning on starting into the business next year im ok on the truck and trailer but i need some help on the Insurance and Taxes. Do you guys think that i actually need the insurance and if so how much and how do i go about getting it. i will probly only be mowing residential areas cutting trimming edgeing and blowing of sidewalks but i also might do flower bed work. any help on how to obtain a license and insurance would be greatly apreciated i live in Huntsville Al

Thanks
Daniel

[lawnMaster5000]

Insurance is recommended no matter how little work you will be doing. You can get insured through most insurance companies, look in the phone book under insurance and start calling. Ask if they have business liability insurance. Most guys here are insured for one million dollars, I am slightly under that. It should cost somewhere around $400-600 annually.

Taxes are a the law, contact an accountant to get set up.

License, contact the county courthouse and ask them if you need a license.

[ffemt1271]

tes you need insurance. i would go with at least 1 million $ in coverage, that goes for about 800$ per year around here. as for licenses, you need to go to your county office and get a dba, or doing business as license. call your county extension office or the state dept of agriculture and inquire about licenses. here to plant flowers you have to have a horticulturist license. to built beds and other landscape projects you have to have a landscape contractors license. as far as taxes go, you need to talk to a CPA. they will know the ins and outs of taxes in your area.

[DMLawns]

Thanks guys i will do that if any one knows the license and insurance in huntsville Al please let me know

[Rustic Goat]

ffemt1271,
You paying that much for just liability insurance? How many people does that cover?
All others reading the above, ffemt1271 and I are in the same town.

DMLawns,
Liability insurance is a MUST, be sure you check with agent that handles your other insurance. And/or your parents agent, don't know your personal situation. Some companies won't issue business liability to anyone that doesn't already have some other type coverage with them. Definitely shop around for it though.

Licensing matters are as described in a previous post, recommend finding a good CPA. You need to have a decent working relationship with one, this is one individual that can be very beneficial to your lifestyle.

Best wishes to ya

[ffemt1271]

yep 780$ per year for 1M i liability ins. it covers me and 1 helper
where you get yours and how much?

[Rustic Goat]

ffemt1271,
That's probably right. Mine is under $600, State Farm. My understanding is the longer you have this type insurance, without any claims, it can get a little less, or at least not go up annually.

[ffemt1271]

yeh, thisis my first year in biz so that probably dont help, it also covers over the counter herbicides, pesticides, and fertilizer.

[Green in Idaho]

Insurance generally requires a contractual signature- minors are not eligible.

I could be wrong but I'll guess a 16 year old is not going to be able to get their own policy.