Insurance and License Questions

Discussion in 'Starting a Lawn Care Business' started by BBallkid42, Aug 1, 2011.

  1. BBallkid42

    BBallkid42 LawnSite Member
    Posts: 118

    I'm currently going to school right now with a major in Business Administration and have taken care of my own finances the last few years. Is there something I'm forgetting or not looking into that an accountant would?
     
  2. rywnygc

    rywnygc LawnSite Senior Member
    Posts: 523

    Are there things that you do on a property that an accountant might forget?

    I'm not saying you need to run out and get an accountant; but it's not a bad idea. In my situation, I prefer to have one.
     
  3. agrostis

    agrostis LawnSite Silver Member
    Posts: 2,268

    A LLC is a "incorporated" business. It protects you and your private assets - your house,car,bank account. A "regular" business that is not incorporated means you personally and all your assets are on the line if you get sued for whatever reason.

    A accountant is a great idea for any size business. You will forget something related to bookeeping. And at tax time these people are worth every penny.

    That 6% sales tax is for the state you live in. You still have to pay state and federal income tax.

    It is a pain to jump through all these hoops but you will glad you did.
     
  4. vencops

    vencops LawnSite Bronze Member
    from NC
    Posts: 1,537

    Agrostis...

    How can I get in touch with you. I can't seem to send you a PM.
     
  5. bohiaa

    bohiaa LawnSite Fanatic
    Posts: 5,220

    the laws will be diffrent in your state and sometimes in countys...

    I was surprised when you said 500 for insurance...

    as far as the LLC/INC. depending on your value. it may be better for you to simply file a DBA....

    this is a decission you will have to make. each person is diffrent. read on your states web site and go from there. as far as accountaints. there is really NO reason to jump out there and pay some one to do this right off the bat.

    after you GROW this is a good ideal, unless your good at it.
    when I started I did everythign. NOW I'm to the point where I do all the taxes, and paper work.

    again, do your OWN RESEARCH...... dont take advice from this site.....

    I have seen a post where a person took advice and then got called in, and he said....
    WELL this guy on the internet said I could claim it as a tax deduction...
    DONT LET THIS HAPPEN TO YOU

    BEST OF LUCK
     

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