Type of company or corporation

Discussion in 'Starting a Lawn Care Business' started by TJMowers, Sep 26, 2005.

  1. TJMowers

    TJMowers LawnSite Member
    Posts: 2

    I was wondering what most landscaping companies are set up as. I am going in to this alone and I assume a limited liability company would be my best bet. Does anyone have any advice as to which is best and/or advantages or disadvantages of these.

    Thank you in advance--this forum has been extremely helpful in many questions.

    Todd
     
  2. JasonX

    JasonX LawnSite Member
    Posts: 52

  3. mmacsek

    mmacsek LawnSite Senior Member
    Posts: 543

    Todd,
    You're best bet is check with your accountant and a business lawyer. Every state is different as you're situation. I changed from a sole prop. to an S corp. There are alot of opinions about which way to go but the big reason is liability. If it comes down to that you will need a lawyer. It cost me about $800 to Inc. Matt
     
  4. 66galaxie

    66galaxie LawnSite Member
    Posts: 10

    Matt is correct, seek the guidance from a CPA. Just as your customers consult you regarding their lawn, you should seek the help of a professional. A good CPA will help you with tax strategies as well. I am not a fan of Turbo Tax and the others because I have seen many business owners not take advantage of legitimate deductions due to these programs. I'm not a CPA nor do I have any interests in any CPA firms.
     
  5. A Finer Cut

    A Finer Cut LawnSite Member
    Posts: 16

    There are many helpful books that address this issue at your local library or bookstore of a decent size. I am currently researching becoming an llc myself. I started out as a Sole Proprioter but need to seperate my business and personal finances. For example, when looking for credit for personal reasons (House, in my case) the business's liabilities are reflected on my personal credit report. If you combine that with the dificulty of verifying income it will make a big difference.
     
  6. Team Gopher

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

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    Hi TJMower,

    From what I have seen. Many LCOs start off as a dba. Later they grow into an LLC. Yes you can go right to an LLC. I think most start off with a dba because it is easier.
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  7. PMLAWN

    PMLAWN LawnSite Gold Member
    Posts: 3,535

     

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