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Type of company or corporation

TJMowers

LawnSite Member
Location
Austin, Texas
I was wondering what most landscaping companies are set up as. I am going in to this alone and I assume a limited liability company would be my best bet. Does anyone have any advice as to which is best and/or advantages or disadvantages of these.

Thank you in advance--this forum has been extremely helpful in many questions.

Todd
 

mmacsek

LawnSite Senior Member
Location
Elizabeth, WV
Todd,
You're best bet is check with your accountant and a business lawyer. Every state is different as you're situation. I changed from a sole prop. to an S corp. There are alot of opinions about which way to go but the big reason is liability. If it comes down to that you will need a lawyer. It cost me about $800 to Inc. Matt
 

66galaxie

LawnSite Member
Location
michigan
Matt is correct, seek the guidance from a CPA. Just as your customers consult you regarding their lawn, you should seek the help of a professional. A good CPA will help you with tax strategies as well. I am not a fan of Turbo Tax and the others because I have seen many business owners not take advantage of legitimate deductions due to these programs. I'm not a CPA nor do I have any interests in any CPA firms.
 

A Finer Cut

LawnSite Member
Location
Fairfax, Va
There are many helpful books that address this issue at your local library or bookstore of a decent size. I am currently researching becoming an llc myself. I started out as a Sole Proprioter but need to seperate my business and personal finances. For example, when looking for credit for personal reasons (House, in my case) the business's liabilities are reflected on my personal credit report. If you combine that with the dificulty of verifying income it will make a big difference.
 

Team Gopher

LawnSite Platinum Member
Location
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Hi TJMower,

From what I have seen. Many LCOs start off as a dba. Later they grow into an LLC. Yes you can go right to an LLC. I think most start off with a dba because it is easier.
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PMLAWN

LawnSite Gold Member
Location
Mooresville NC
Team Gopher Hi TJMower said:
I thought a DBA was the sub business of a corporation. Instead of using the corp name you can run a DBA or even 2-3 out of one corp.

That is what we do as we have 3 business running under cover of the corp. none of which is named the same as the corp.
For us a S corp. was best but see an accountant and a lawyer
 
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