• PPP The Second Time Around
    The Emergency Coronavirus Relief Act of 2020 passed in December contained $284 billion for the renewed Paycheck Protection Program (PPP). Click here to read the article.

two businesses....one owner

bobbygedd

LawnSite Fanatic
Location
NJ
how the hell do i set this up: next year i will run two separate lawn services. my current one, and the new one. HOWEVER, the same trucks will be used for both businesses. the same employees will be used for both businesses. the same equipment, etc. how do i need to set this up to keep it legal?
 

BSDeality

LawnSite Silver Member
i believe one company has to lease the truck to the otherr.

Get a business lawyer to set it up, oh wait, those are expensive, you don't buy expensive things....
 
Why dont ya just expand the one ya have ( Wich i doubt u do) and save the paperwork and tax mess of running 2 diffrent Company names , Swear you should be related to Billy Snoddy 1 man and at least 10 diffrent trucking company names , BST,SLS,S&K, Phantom Transport, S&J, Lorenzea, Golden eagle construction, BSC, Hell i forget them all now LOL
 
OP
B

bobbygedd

LawnSite Fanatic
Location
NJ
no, it has to be 2 different names, 2 companies. unless, can it be "abc" landscaping (a subsidiary of xyz landscaping) and use the same tax id #, payroll, etc? nosmo will know. i'd ask sean, but last time i asked him about tax stuff + profit margins, he had it all wrong
 

rbriggs

LawnSite Member
Location
Ashland, MA
Create a corporation... ie. ABC, Inc. Then you should be able to run both businesses under that corporation. For example ABC, Inc. dba XYZ Landscaping; ABC, Inc. dba Apple Lawn Care. Just examples. But I would definately check with a business attorney. As a business owner, you should already have an attorney.
 

geogunn

LawnSite Silver Member
Location
TN
bobbygedd said:
how the hell do i set this up: next year i will run two separate lawn services. my current one, and the new one. HOWEVER, the same trucks will be used for both businesses. the same employees will be used for both businesses. the same equipment, etc. how do i need to set this up to keep it legal?
what you are referring to is called a "shell game" by the IRS. they have lots of info on the subject available as well as a staff of trained field agents to assist you.

GEO :dizzy:
 

NEPSJay

LawnSite Senior Member
Location
Scranton, PA
I have to ask ya Bobby..... whats the method to ur madness?? Im 110% positive you have a good explination of why a guy would need 2 biz's. I just hasnt dawned on me yet. Please fill us in Bobby.:dizzy:
 

harryhomeowner

LawnSite Member
Location
Fairfax, VA
This isn't a shell game, he's not looking to scam anyone...at least not intentionally.

Nothing wrong with ABC landcare, a subsidiary of xyz services....
 

SodKing

LawnSite Bronze Member
Location
New Hampshire
I have a corporation and we run dba's under it. All gets filed under the corporation name.
 
Top