Why should I start a business?

Discussion in 'Starting a Lawn Care Business' started by coopmaster, Aug 15, 2008.

  1. coopmaster

    coopmaster LawnSite Member
    Posts: 149

    What are the advantages / disadvantages to starting a business. Right now I am a one man operation and make a decent living at it. I cut 6-8 yards per day, all residential. No business license no taxes, all cash/checks. Tell me why I should start a legitimate business.
     
  2. sbvfd592

    sbvfd592 LawnSite Senior Member
    Posts: 668

    Because its the LAW if u are generating a income to report it. You need insurance in case something happens. You need a licence so if there is a discrepancy they can report it.
     
  3. no need to worry about it until you get a registered letter or someone shows up at your house showing you IRS identification and starts asking questions. Maybe happen maybe not not fun when they do. Here is a article in our local paper about a couple of people I know. Just a junk yard owner but same difference.







    Husband and wife Gregory J. and Donna G. Gurtz, ages 58 and 41, respectively, of Depauw, were charged July 29 with three counts of tax evasion, following an investigation by the Internal Revenue Service.

    The information, announced by Timothy M. Morrison, U.S. Attorney for the Southern District of Indiana, alleges that the Gurtzes attempted to evade income tax they jointly owed for the calendar years 2004, 2005 and 2006, by preparing, signing and filing false joint U.S. Individual Income Tax Returns. Federal agents seized $1,843,130 from the residence and business locations near 8500 S.R. 337 in Depauw.

    Court documents indicate that Donna Gurtz structured a substantial number of financial transactions involving money received from businesses and individuals doing business with Gurtz Auto Salvage and/or personally with Gurtz, so that no single transaction carried out by Gurtz was greater than $10,000 and so that the total amount of the transactions carried out by Gurtz on any given day was less than $10,000. Gurtz structured transactions by first having businesses and individuals write several checks to her, each check being for an amount less than $10,000, and then she cashed the checks over periods of several days, according to court documents. The transactions were structured so that there would not be a record of Gurtz Auto Salvage or the Gurtzes receiving certain funds from other businesses and individuals, thereby enabling the Gurtzes to under-report their income to the Internal Revenue Service.

    From August 2004 through February 2007, Gurtz structured financial transactions totaling approximately $3,252,530, through her check-cashing scheme and received this approximate amount of money in cash from the financial institution where she performed the transactions.

    On May 1, 2007, a search warrant issued by a Magistrate-Judge of the U.S. District Court for Southern Indiana was executed by IRS agents. The agents found $217,915 at Gurtz Auto Salvage and $1,625,215 at the couple's residence.

    Assistant U.S. Attorney Todd S. Shellenbarger, who is prosecuting the case, indicated both Gurtzes face a maximum possible fine of $100,000. An initial hearing will be scheduled before a U.S. magistrate judge in New Albany.

    The Gurtzes own Gurtz's Auto Salvage south of Depauw and formerly owned the Highway 64 Food and Fuel Center in Depauw.

    When reached by phone Monday, the Gurtzes had no comment regarding the charges.
     
  4. fool32696

    fool32696 LawnSite Senior Member
    Posts: 991

    If you want to be a small timer the rest of your life and never grow, don't worry about it.
    I know I wouldn't be dumb enough to let someone like you on my property.
     
  5. topsites

    topsites LawnSite Fanatic
    Posts: 21,654

    Normally I wouldn't even bother responding,
    but I made an exception.

    Have a nice day.
     
  6. easycareacres

    easycareacres LawnSite Senior Member
    Posts: 367

    yopu should not start a buss as youre a cheap muckenfuddled one who scrapes through life, dont dare ask quetions to ones that struggle honeslty
     
  7. Grits

    Grits LawnSite Silver Member
    from Florida
    Posts: 2,994

    Why should we tell you the reasons to start a legit biz? You are a lowballing scrub.
     
  8. coopmaster

    coopmaster LawnSite Member
    Posts: 149

    I posted the question looking for legitimate responses. I did not mean to imply that I will not make everything legit. Maybe my question should have been what is the process for starting a business. I was looking for advise not hateful replies. I lost my sales job of 11 years and just started cutting grass. Now that I have an established customer base I was curious about the benifits of making everything legal on paper. Sorry to offend, just trying to do the right thing.
     
  9. Stillwater

    Stillwater LawnSite Platinum Member
    Posts: 4,807

    you have your answer in post #2
     
  10. New_Business

    New_Business LawnSite Member
    Posts: 28

    you have much to learn...
     

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