business question.........

Discussion in 'Landscape Architecture and Design' started by Tastroh, Oct 24, 2007.

  1. Tastroh

    Tastroh LawnSite Member
    Posts: 22

    What do all of you have as far as licensing, insurance, workers comp, etc...? I'm trying to do some research on what is the "best" (most economical, yet legitimate) way to get my company off to a good start.
  2. tthomass

    tthomass LawnSite Gold Member
    from N. VA
    Posts: 3,497

    MD......well, I'm not MD, but I am VA.

    Get a general liability policy (Zurich). I paid about $500 for mine last year with $2-3million coverage etc. Workers comp (Travelers) goes back and fourth. I have it and pay about $5.72 per $100 I pay my help.

    You'll need a Federal Tax ID# to make your monthly tax deposits for Federal Taxes and Social Security. State tax you pay separately to the state.

    Who does your personal taxes? They should have the forms to help get you setup. You'll want to contact the state also to get licensed with the state. Also, your county.

    There are other things you need too but depends on your business and state. Its frustrating at first but you'll get the hang of things. Now is actually a great time to be thinking of these things so you'll be ready for 2008. That is another thing, start everything off with January 2008 if you can so save more filing and paper work etc for this year. On top of questions of you should have had this before you did that and so on.
  3. Tastroh

    Tastroh LawnSite Member
    Posts: 22

    thank you...i'm just trying figure out everything.......and your right it is frustrating

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