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ok i got a ?

Discussion in 'Business Operations' started by strayer1, Mar 14, 2004.

  1. strayer1

    strayer1 LawnSite Member
    Messages: 45

    i have experience.i own lots of commercial equipment.I'm just starting out this year and I'm the one and only employee.i live in Pennsylvania.as far as tax stuff and id numbers where do i go from here?I'm looking into business ins. other than that I'm lost.I'm not planning on hiring employees this year.i need to know all the legal stuff for my biz.......please help....:(
  2. DJL

    DJL LawnSite Member
    Messages: 237

    I'll give you the best help ever for this....

    Go see an attorney and/or tax advisory since they will have all of your answers.
  3. charlies

    charlies LawnSite Senior Member
    from earth
    Messages: 587

    here's a few of the million things you have to do:

    get trade name, through the state website, they should have downloadable form.

    get irs form ss-4 (for tax i.d.#) off their website (once your there, under business, then forms) you may not need to do this until you plan on hiring employees, i think you can use your ss# up until then.

    you need to pay estimated taxes for both the federal and the state quarterly, i don't remember how to start this up now, but call your new and friendlier irs, they can tell you. (they actually are friendlier and more helpful than they used to be).

    you should get at least 500k, maybe 1 mil. in liability insurance. you also should have your equipment covered for whatever it's worth. don't forget to call your insurance guy up at least once every couple years to make sure your covered for replacement value, doesn't matter what it is actually worth.

    that's all i'm good for right now.:cool:
  4. Green Quality

    Green Quality LawnSite Member
    Messages: 176

    ok.i might be able to help.frist get your fed Id no#.these can be done over the phone,call the fed soc sec office.2nd call around for insurance,3rd use your last name it,s free or get a fic name for the business,which is $70.go to www.state.pa.us click on business on the left side of page.you need to reg with pa state tax.because there is a service tax .6%with this type of business.find out in your county if you need to have a business license.cost may vary! a lot of hoops to jump threw. by the way what part of pa. are you from?
  5. strayer1

    strayer1 LawnSite Member
    Messages: 45

    hi green, im from clearfield county.
  6. strayer1

    strayer1 LawnSite Member
    Messages: 45

    hey thanks everyone for the info this site is the best and VERY addictive as a newbie i find my self getting all kinds of info from here.
  7. Team Gopher

    Team Gopher LawnSite Platinum Member
    from -
    Messages: 4,040

    Hi strayer1,

    Write down as many questions that you can come up with and visit a local CPA. Within an hour I bet you will feel great knowing you are starting off on the right foot.

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