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I'm working part time as a LCO so my wife can stay home and raise or kids till their in school. I've lined up 15 yards for this season and I'm planning on hiring 1 worker. How should I handle Liability Insurance for both my Customers and my Employee. I don't think I can afford to purchase Workers Comp.

I'm planning to grow the business in the years ahead but can't afford to get ahead of myself financially.

Advice is greatly appreciated!!
 

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Man, don't waste your time or money with extra help now. With
15 yards you don't need the help or the expense. Work small
get liability to cover you and the business and inland marine
coverage for your equipment. It is not that expensive and will
make you legit.
I did 14 lawns part time while working full time with no help, while my wife stayed at home, so I know where you are coming from.
Good luck! Get insurance
 

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I have a question. I was wondering what is a LCO?. I have been doing research at my state dept. of assessments and I was going to apply for my LLC. I see that most people are LCO on the site. Do you still get LCO trough the state dept. of assessments? One other question what is a S corporation, C corporation. Any help one what I need to get would be great.
Thanks
Greg
 

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I just received my LLC status here in NYS...$200 to file, and I have $500k liability insurance for $650 a year...not too bad...I keep 75% of my accounts on the books, 25% off and pay my help (if and when needed) out of that cash pool
 

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if you cant afford workmans comp then you shouldnt be in business

lco= lawn care operator

if you pay employee's cash, you are just asking for trouble,if you cant do it right then dont do it at all.
 

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Workmans comp isn't necessary if you are a small operation like you are talking sir...you become big, then obviously you need to do it. Save your cash if you only have someone helping you sometimes, and you don't have to take out workman's comp on yourself
 

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Take the money it would cost you for a helper and get very productive equipment. You can do 15 lawns by yourself if you really desire to do it. Just starting and paying a helper will strap you more than its worth, especially with only 15 lawns and wanting to let your wife stay at home. Working solo can be VERY profitable, but add a helper and it goes down drastically.
 

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Workmans comp isn't necessary if you are a small operation like you are talking sir...says chevyman1

If you have 1 employee than you are requried to have workmans comp, no matter what. even if you are not a corp.


You dont need workmans comp if your the only employee, Unless you are a corp, then you are requried to have it.

Again...do it right or dont do it at all
 

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Actually James, in many states its not required until you get a certain amount of employees. Here in TN after 5 you must have WC, if not you can chose not to have it.
 

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required and reality are two different things...if you have 100 places and need lots of full time help of course do it right...if you are a guy like me who might have 50-60 this year, have someone help when need and pay under the table...99% of places do it, don't let someone fool you
 

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65 hoss....I dont know Tenn requriments, I speaking of Ma. Its dosent make sence what tenn does because the size of the business has nothing to do with the chance of a employee getting hurt. And a smaller employer would have a harder time taking care of a employee that gets hurt.
AND thats what it is for, I am a employer that pays it and I was once a employee that lived off it for 1 year so I know the importance of having it.

IF your someone telling your employees that you have it and dont your a scum bag...periord, and that reality alot of small landscapers do that.

Chevyman1...99% of companies do it....do what pay under the table? so...thats okay???? come on.....
Then why dont you post your name and company name and where you do your business? I didnt see that in your profile.
I am sure your customers wouldnt mind you having employees on their properties that are not insured...cause everone's doing it....oh wait Im not, am I am sure there are alot of guys here that are not. I would be willing to bet there are alot of guys that you compete against that are not.
 

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Originally posted by 65hoss
Actually James, in many states its not required until you get a certain amount of employees. Here in TN after 5 you must have WC, if not you can chose not to have it.
In NC it's 2 employees; but if something was to happen to your employee you could still be held liable.
 

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Originally posted by James Cormier
65 hoss....I dont know Tenn requriments, I speaking of Ma. Its dosent make sence what tenn does because the size of the business has nothing to do with the chance of a employee getting hurt. And a smaller employer would have a harder time taking care of a employee that gets hurt.
AND thats what it is for, I am a employer that pays it and I was once a employee that lived off it for 1 year so I know the importance of having it.

I would bet many states have something similar. Is it a good idea not to have it? NO. Its protection for the owner. Its also costly, that is why they allow small business to not have it. It does make the owner responsible though. Its like being self insured. Its a personal choice when you have 1 or 2 people. Can a guy sleep at night not having it? Each person has to decide that.

The under the table stuff is what this site is trying to help stop. Trying to raise the bar in the green industry. Some people are probably new or thinking about getting in this industry. So being a champion of under the table tactics really isn't needed or desired on this forum. At least that is my opinion and the opinion of other instrumental people here in the past.
 

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"I can confidently say I'll be in the top 10% of sole proprieterships in terms of profit, work quality, and knowledge (that's not arrogance, that's FACT). " quote from chevman1 in past post

Now I know why.....you only pay taxes on 75% of your income and you dont pay proper insurance......oh yeh everone does it..
 

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You cant just be self insured...you have to prove you can handle the costs if someone makes claims...and you have to have a kettle with money put away for it.

If you tell your employees that they are not covered and they choose to work for you thats fine. If you tell them otherwise and you dont have it..well i have a problem with that.

If your bidding on a commerical property dont they ask to see your insurance coverage, mine do. and if I have employees they want to see workmans proof.

I think you and I aggree 65hoss on certain posts on this board, Someone must call out these people.
 

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Originally posted by James Cormier
You cant just be self insured...you have to prove you can handle the costs if someone makes claims...and you have to have a kettle with money put away for it.

If you tell your employees that they are not covered and they choose to work for you thats fine. If you tell them otherwise and you dont have it..well i have a problem with that.

If your bidding on a commerical property dont they ask to see your insurance coverage, mine do. and if I have employees they want to see workmans proof.

I think you and I aggree 65hoss on certain posts on this board, Someone must call out these people.
Yes I am real sure we agree.
I don't mean self insured in the techincal sence. More like your liable due to lawsuit if they get hurt. You will PAY.
Many comm'l properties do ask for proof of insurance and WC which is a great business practice for them and us. Makes the playing field more level when competing.
 

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James, everything is going to be OK buddy....I have a friend and a brother in law that will help me on the side...it's just plain and simple reality dude...If and when I get really big, it will all be done like it should be. But some home pay cash, and that's cool too, ok?
 
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