Licensing a biz

Discussion in 'Business Operations' started by FrankenScagMachines, Dec 31, 2002.

  1. lawnagent

    lawnagent LawnSite Senior Member
    Posts: 529

    AMEN!!!!!!! Mr 350 needs to go to another thread. I hope he does not have kids. If he does I hope he gives em more of a chance than what he wants Bush Hog Boy to have.
     
  2. f350

    f350 Banned
    from mi
    Posts: 424

    i'm the one that needs to leave, ok.. bhb, find an underwriter that will issue a policy to you.. you guy's want to flame me, but it's a harsh reality that his plan is going to fall apart. it WILL NOT BE HIS COMPANY, it's his parents.. no, i dont have kids but, my parents never let me live a pipe dream and this is exactly what it is. tax brackets, your really not getting it are you, if the company is registered to his parents ( part-time or as a hobby ) it's considered income, thus the change in taxable wages. this is one of the reasons nothing and i mean nothing gets acomplished in this forum. i'll put a hefty wager ( because i can ) that 98% of the members have no logic on how to run a business. if you all keep feeding this kid the wrong information he and his family will end up hurt. kid listen, i'm not trying to bust your balls, but there are reasons you are considered a minor, you have no credibility.. these laws about being a minor are here to help you, if you like what you do, work for someone else.. dont risk your life's finacial future or your parents for that fact. i'll leave this thread as soon as someone shows me that what he is trying to do is legal and they show me an insurance carrier that will protect him.. even if he didn't have insurance and hurt someone or did damage to property HE CANNOT BE HELD LIABLE.. look at past cases of automobile accidents where minors who were driving were not sued but rather the parents..
     
  3. Wesley's Lawn

    Wesley's Lawn LawnSite Member
    Posts: 211

    F350 you say find a ins company that will insure a minor well i did they insured me with biz insurance when i first called him and i asked him if being 17 was going to be a problem and he said no so i dont what its like where you are but here i got my insrance and its in my name. the same with my vehical insurance and my parents names aren not on the polciy. Lawngodfather about what u said whoever told me was wrong well you tell me that alot of people are wrong then cause a few teachers have told me and a few uncles and an aunt who have been in the military have told me and my cuz how is in the national guard can drink and smoke and he might even get sent over to iraq and he is 17.
     
  4. f350

    f350 Banned
    from mi
    Posts: 424

    wes, i was in the military.. like i said, show me the proof and i'll bow down.. 17 is ok to enlist in the u.s. military provided you have a h/s diploma. if you not have one, a person can enroll in the dep program untill a seat is available.
     
  5. Wes, you lost me there bud.

    18 to fight for our lovely country 17 you can enlist but still a peon.

    Give me the base, all the numbers of them fellows who you claim to be drinking and smoking underage and I will have everyone of them thrown in the bregade for 20 years.

    Again it is illegal.

    But then again you read so well, I did say who was going to bust them.

    Back to BHB,....why pay all thoise added expences if you don't need to, they will actually cost you more than you will make.

    You are not a scrub because you cannot be legal yet. You can get all this stuff in your parents names, but why.

    Again contact your parents CPA, they will tell you the right moves to make.
     
  6. Evan528

    Evan528 LawnSite Silver Member
    Posts: 2,144

    If you want to be leagalized bad enough you can do it. I registered my business and got insurance when I was 15 years old. I payed alot higher rates then most, but being legit was very important to me. As soon as I reached 18 years of age this year I switched all my policys over to Erie insurance......they seem to be the chepeast by far but they will not even consider you if you are under 18.
     
  7. Darryl G

    Darryl G LawnSite Fanatic
    Posts: 8,133

    Jason - Confessing to cheating on your taxes on the internet isn't very bright!

    BHB - I thought you were buying another business? Did that fall through?

    Your State and/or County probably has a new business assistance program that can help you get started. I would search the web and see what programs they have. Here in CT, I think it's called a quick start program. They provide all the forms and brochures on what's required to start a business.

    As far as insurance, I had a hard time finding insurance and I'm way over 18. Most companies wanted at least a 3 year claims history and all required prior experience. My insurance company required 5 years of experience in the field, which I was barely able to scrape up.
     
  8. FrankenScagMachines

    FrankenScagMachines LawnSite Platinum Member
    from IN
    Posts: 4,739

    Ok LGF, I didn't know about that loophole. I guess I'll not do this stuff, but I would still like to check on the insurance, thats kinda important to me.
    darryl, Uh, yea that fell through, but it didn't come with this stuff anyway..it was a part time operation on the side of his regular job. I kinda like the idea of starting from scratch anyway. I would be more proud of myself and have that sense of accomplishment, and also I wouldn't be expected to do things the same way as the owner. It's my way now!
    Thanks,
    Eric
     
  9. Kingspointe

    Kingspointe LawnSite Member
    Posts: 56

    I started out this past summer, did great, and was a scrub and there was nothing I could do about it. You cannot sign contracts if your under 18 and in some instances you might need a co-signer. All I did was pay good attention to what some of my contractor fellas I met and now that I'm 18, all my winter money is going to pay for insurance. As of November when I did turn 18, I went to the county clerks, and filed my paper work, 18 no problem, if not, take it how it is and relax on f350 lol! he's honest
     

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