Who is fully legit?

Discussion in 'Starting a Lawn Care Business' started by Slcareco, Apr 3, 2008.

  1. Slcareco

    Slcareco LawnSite Senior Member
    Posts: 682

    Who has:

    • Home Improvement License
    • EIN
    • Business Certificate
    • Insurance
    • Pays
    • Taxes

    How does badly does it effect your yearly net income?
     
  2. Carolina Cuts

    Carolina Cuts LawnSite Bronze Member
    Posts: 1,152

    * Home Improvement License - huh?
    * EIN - whats that mean? :) I'm terrible with abbr.
    * Business Certificate - yes.
    * Insurance - yes.
    * Pays - pays what? payroll?
    * Taxes - ugh, yes.


    ya mean as far as being a cash biz vs. legit?

    obviously, it effects it greatly.
     
  3. flattoplawncare

    flattoplawncare LawnSite Senior Member
    Posts: 321

    I Am :waving:
    Just finished up with my accountant, ahhhhh what a great feeling it is to be legit. My accountant saved me sooooo much money this year. It is better to be legit, It does not make much sense not to be.
     
  4. IA_James

    IA_James LawnSite Silver Member
    from Iowa
    Posts: 2,593

    You may be better off talking to your lawyer or accountant on what all you need. It varies quite a bit from state to state.
     
  5. bas122286

    bas122286 LawnSite Member
    Posts: 15

    EIN is your federal tax id # Carolina. This would really fall under paying taxes so... Anyway I am also fully legit and proud of it.


    Brian:cool2:
     
  6. PerfectEarth

    PerfectEarth LawnSite Bronze Member
    Posts: 1,734

    I am.

    Insured
    LLC with KY
    Registered with Louisville Metro for taxes AND truck sticker for over 10,000#
    DOT compilant w/all files.
    Drug Tested
    Class "A" Driver
    Licensed Applicator
    Monthly accounting- EVERYTHING.
    Quarterly taxes- again, everything accounted for. EIN, KY account#, Lou. Metro #

    Everything was a PAIN but worth it. It feels good to be legit, and honestly, I frown on the guys who are not. The costs are considerable but customers understand- cause they know you are doing it the right way and they have hired someone they can be confident in.
     
  7. DA Quality Lawn & YS

    DA Quality Lawn & YS LawnSite Fanatic
    Posts: 8,870

    Per above, very loaded question with so many LCO's on here with such different operations and all living in different states. Be prepared for a rainbow of answers.
     
  8. Albery's Lawn & Tractor

    Albery's Lawn & Tractor LawnSite Bronze Member
    Posts: 1,675

    Here the county will not give a bus liscense to a LCO. Why I don't know. I am registered with the state as a DBA, fully insured, & pay taxes.
     
  9. pjslawncare/landscap

    pjslawncare/landscap LawnSite Bronze Member
    Posts: 1,410

    Well, The IRS loves me, my insurance agent loves me even more and we dont need any "home improvement" license. Oh yea, I have my EIN.
    Of coarse it effects income, but I sleep well at nite.
     
  10. Slcareco

    Slcareco LawnSite Senior Member
    Posts: 682

    Now with a DBA you have liablity correct as opposed to LLC or Corp were you have no liability??
     

Share This Page