type of business

Discussion in 'Starting a Lawn Care Business' started by Mr.Lawn, Nov 14, 2006.

  1. Mr.Lawn

    Mr.Lawn LawnSite Member
    from Florida
    Posts: 93

    Ok here is my problem, when setting up your business did you set it up as a LLC or as a S Corporation???? Any and all opinions would be very very helpful:usflag:
     
  2. BSDeality

    BSDeality LawnSite Silver Member
    Posts: 2,849

    this is something that should be answered by an experienced accountant with the blessing of an experience business lawyer. Both of which are expensive, but will pay dividends in the end.

    You want legal protection in the event of catostrophe, but you also want to minimize taxable income and there are different approaches to these two considerations.
     
  3. Prestige-Lawncare

    Prestige-Lawncare LawnSite Senior Member
    Posts: 753

    Looks like your lawyer and/or accountant suggested you go the LLC route .. correct?

    :weightlifter:
     
  4. BSDeality

    BSDeality LawnSite Silver Member
    Posts: 2,849

    that is correct, however each state is different and there may be better options for your state. My new accountant has been nothing but change from my last one and thats why I stress talking to an accountant and a business lawyer.
     
  5. topsites

    topsites LawnSite Fanatic
    Posts: 21,653

    He's right, I tried doing without and 4 years into it I had to hire one anyway, so get a head start then it's less backtracking, cost is about the same either way, might as well do it right from the start.

    LLC's alone can be setup so many different ways and each has its good and bad and like was said, it is different from state to state depending on your laws, so...
     
  6. Grass-Masters

    Grass-Masters LawnSite Senior Member
    Posts: 424

    Check with your accountant, but most accountants will suggest LLC. Some protection like corporation, tax breaks of sole propietership.
     
  7. apowell18

    apowell18 LawnSite Member
    Posts: 179

    just a tidbit...Corps would be good if you are planning to expand...one part mowing, then a landscaping arm, etc...it's all under one umbrella...LLC i do not know much about...sorry...
     

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