insurance

Discussion in 'Business Operations' started by rookiemower, Dec 12, 2003.

  1. rookiemower

    rookiemower LawnSite Senior Member
    Posts: 766

    is it possible to get $1 million in insurance without a business license i feel im to small to become a real biz (15 accounts) i plan on becoming a real biz when i get about 25-30 accounts but i still want insurace for safety reasons thanks for the help:confused: :waving:
     
  2. sildoc

    sildoc LawnSite Silver Member
    Posts: 2,925

    Rookie, Not sure about chicago but all a business license costs here is 50 bucks for the year and let me tell you I have more write offs paying the 50 bucks than if I had not.
     
  3. Popsicle

    Popsicle LawnSite Member
    Posts: 189

    What's it cost to get a license? Both my state and city licenses add up to only about $30.

    Insurance is going to cost you a lot more than that.
     
  4. rookiemower

    rookiemower LawnSite Senior Member
    Posts: 766

    really thats not bad but what about taxes how does that work with a very small part time biz
     
  5. Bigfoot

    Bigfoot LawnSite Member
    Posts: 167

    I'm no legal expert, but if it was me I would get the business license. The license should seem cheap compared to the insurance. In my county the minimum is $25.00, it is most likely higher in the Chicago area.
     
  6. sildoc

    sildoc LawnSite Silver Member
    Posts: 2,925

    Taxes? Well take the job you and Maybe your wife are working and minus all expenditures off that you did not make in mowing. Ie. gas, insurance, mowers, and such. Let me tell you it will reduce your gross federal tax and you will pay less.
    This was My main plan untill I realized I liked being in business for myself.
    This varies state by state and there are different laws so consult your local tax person (write off again) and find out for yourself.
     
  7. fga

    fga LawnSite Silver Member
    Posts: 2,449

    In ny, a license cost $200, then you pay about $200 in "fees". So its about $400 a year here. And my insurance broker will sell home ownwers insurance to the hobo living in his car, as long as you'll pay, you can get it here. :D
     
  8. z_clark

    z_clark LawnSite Senior Member
    Posts: 369

    here in Texas the sole proprietor ship license goes for $15, but even if it were more I would still think it was worth it as it lets you buy wholesale at nurseries.
     
  9. twins_lawn_care

    twins_lawn_care LawnSite Senior Member
    Posts: 932

    Bill,
    being from the same area, I would recommend getting your license as soon as you can. 15 accounts is not too small, it's all relative. I have fewer than that, but I sure have my license. All you need is to be stopped once, and there goes the smooth sailing. It went up to $75 where I am at, but like was mentioned, you get it all back with write offs, and the ability to advertise you'll be licensed and insured. Plus it opens up doors only offered to businesses, like purchasing offers etc.

    I'd recommend getting one, you never know what could happen, but at least if you follow the rules of the game, you won't be held liable for it!
     
  10. Team Gopher

    Team Gopher LawnSite Platinum Member
    from -
    Posts: 4,041

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