The Green Industry's Resource Center

Mowerboy04 · #**5081** 02-15-2006, 11:58 AM

Quote:

Originally Posted by Five Star Lawn Care LLC

have you ever gone to a Profits Unlimited seminar?

no i haven't. would u mind telling me a little about what it is and when it is ect.
thanks
alex

mtdman · #**5082** 02-15-2006, 02:55 PM

Quote:

Originally Posted by scraper69

you also need to annually update records, and this is where an attrny. comes in handy. Not your average everyday person can do this, and do it right. Pay the attrny, and RAISE YOUR PRICES, i would say, the guy who thinks he can just file the form for 50.00 is gonna charge less than a guy who pays an attry his proper fees to do things RIGHT> Start the right way... dont operate like a HOMEOWNER, be professional and charge professional rates.

Actually, the annual update is pretty easy. It's basically a sign the sheet and pay them $25 kind of thing. I just did that last week. That you don't really need a lawyer for. At least for an LLC.

amar · #**5083** 02-15-2006, 05:25 PM

Quote:

Originally Posted by scraper69

you also need to annually update records, and this is where an attrny. comes in handy. Not your average everyday person can do this, and do it right. Pay the attrny, and RAISE YOUR PRICES, i would say, the guy who thinks he can just file the form for 50.00 is gonna charge less than a guy who pays an attry his proper fees to do things RIGHT> Start the right way... dont operate like a HOMEOWNER, be professional and charge professional rates.

A annual update is another fee imposed on businesses, a registration fee. You pay $25 every year if you pay late its $75 You do not need a attorney all you do is look over the address if you moved or changed you business type you fill it in. It's that simple.

scraper69 · #**5084** 02-15-2006, 08:56 PM

No.... i am referring to a corp. You must keep corporate records updated. This explains how your business is doing, financially, if there are any business related concerns, and it gets filed in your companies corp records. A must to keep a corp valid in Michigan. This is a C corp, not a llc or s corp.

scraper69 · #**5085** 02-15-2006, 08:57 PM

IT also has shareholder meetings minutes and so on. I dont believe in LLC... i prefer the C Corporation.

amar · #**5086** 02-15-2006, 09:29 PM

Quote:

Originally Posted by scraper69

IT also has shareholder meetings minutes and so on. I dont believe in LLC... i prefer the C Corporation.

Corporate records update include LLC and S Corp's.

You probably have 75+ employees, or like double taxation, or have some large amount of passive income.

Is their some other reason in the landscape business you would want to be a C Corp.

scraper69 · #**5087** 02-16-2006, 03:23 PM

yes, if you plan on outgrowing the capabilities of an LLC.. and you want to raise captial through stock.

Its all preference, and mine is C.

Everyone is different