Hate to ask

Discussion in 'Business Operations' started by summitgroundskeeping, Jul 10, 2001.

  1. summitgroundskeeping

    summitgroundskeeping LawnSite Senior Member
    Posts: 410

    Ok, so I'm not INC. yet. The problem is I don't know how to go about being incoporated. Can any of you guys point me in how to do it. I mean I'm getting to the point in "business size" "incopetant help" where I'd be more likely to get sued.
  2. syzer

    syzer LawnSite Bronze Member
    Posts: 1,266

    I just went to my business lawyer who took care of everything for me. Being pretty new I dont know if there is a better way of doing this or not but that was the most simple way I have heard of.
  3. Stonehenge

    Stonehenge LawnSite Bronze Member
    from Midwest
    Posts: 1,277

    You can either go to the local Barnes and Noble and get a book to walk you through the paperwork, or you can hire an attorney. I did the latter.
  4. you can use the computer to find

    look under gov.

    hit search

    hit LLC

    that is the one you want

    Fictiscous name and LLC

    will aprox. cost $75 for all if you do your self

    I did it that way LGF:angel:
  5. Craig Turf Management

    Craig Turf Management LawnSite Senior Member
    Posts: 354

    Contact your State Attorney General's office. They will assist you with the particulars, and the forms that you need to submit. In N.C., it costs about 225.00 to incorporate if you file yourself. Attorneys can charge as much as 1000.00 for the same paperwork.
    Take care, Bill Craig:cool:
  6. John Allin

    John Allin LawnSite Bronze Member
    Posts: 1,489

    This might seem abit off the wall, but you might want to have some discussion with your accountant too. Being incorporated has its advantages, however staying as a sole-prop has advantages too. And, if you're properly insured you can avoid just about any calamity that might come down the pipeline.

    Too many people just jump into being incorporated without looking at all the angles first.

    Just a thought.
  7. cp

    cp LawnSite Senior Member
    Posts: 263

    Whether you are filing for corperation status or LLC or what ever, you want the advice of a lawyer and a CPA. My lawyer and I discussed going LLC and it was cheaper to do and less complicated. After talking with a CPA and determining the tax advantages of filing for S-corporation I changed my mind and it did cost me more up front but the tax benefits will be greater for several years to come...

    Just my 2 cents....this do it yourself stuff is great for around the house honey dos but when it comes to Government and taxes I go with professionals just like my customers do with their lawn care :p
  8. Highpoint

    Highpoint LawnSite Member
    Posts: 153

    I was a sole propriotorship for 13 years. Got Inc.ed 2 years ago. Got to big for my britches. Accountant suggested that I do it. Worked out better on taxes. Only sucking part is if the company makes money, YOU have to pay the taxes! Company does NOT pay taxes. At least you know that if you had to pay then you did something right and made some dough! Good luck :confused:
  9. Grapevine

    Grapevine LawnSite Member
    Posts: 126

    I'm a sole prop. and have friends in this business who are incorporated and some who aren't, pros and cons to both. Whatever fits right for you is what's right. If you own a home definitely take out a Homestead on your home. It will protect the first 100,000 from a lawsuit and it costs practically nothing to set up.
  10. Sean Adams

    Sean Adams LawnSite Gold Member
    Posts: 3,597


    The best advice is talking to an attorney who deals with small businesses. Often times people think any attorney knows what is best. This is not true. In fact, I have come across attorneys who were so out of touch with business practice matters they literally guessed when asked questions. The most important step in this process is finding a competent attorney. Remember, they work for you, not the opposite. Grill them, find out what they know, ask for references...if your clients can ask for your references, why not you with an attorney. I'm not saying go Wall Street and run yourself out of business finding the best (or most expensive), just find one that knows what he/she is talking about, then do what they advise. The law is tricky and it changes so often that saving a buck or two now will come back to bite you in the future. Hope this helps.

    Sean Adams

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