I have done small lawncare for 5 years now in Missouri, and I graduated college with an Associates and now I am doing this full time for a while, I just want to know if I have most of what I need. I have all the equipment, 3 commercial mowers, 2 Stihl trimmers, 2 Stihl blowers, fully equiped trailer (breaks, 2 gates with lower springs, and all the racks). I have sent in a ficticious name form to register my name. I have Quickbooks set up and as soon as my name is registered, I will go start a new bank account in that name. As soon as it registers, I will also be lettering the trailer and truck. I know that for sole proprietorship you use a 1040 schedule C, but since I'm not selling anything, I didn't know if I needed a Tax ID number or what. I live in the city limits as well but I live with my parents, and there isn't really a building for this business, so do I need any permits or what?
You need to check with the city and county to determine if you need a business lisc for the areas that you will do business. When I talked to the state I was told that sales tax id was not needed for providing services, only needed if selling physical products. I didnt notice insurance, that to me at least is very important. Federal Tax ID will depend on if you are going to have employees as well as a few other things. If you are going to be a solo operator you can use your ssn
Yeah, I have contacted my local city officials and they were supposed to be sending me info on what permits/licenses I needed, but that was a week ago. (Now tell me how I can get a $30 package from Iowa in 2 days regular shipping and it takes more than a week to send information across town!) Insurance I forgot to list. I have my own health insurance, and I have been insured for the last 2 years and I just upgraded this year on insurance. I am just going to be solo for a couple years still (as much work as that is), so should I get a Fed Tax ID now or can I do it when I need it?
i live in fenton and i'm also starting to mow this summer. the state told me that since i'm not actually selling a product, i don't need a business license. i do have insurance and it covers theft and any damage i may do up to a certain monetary amount. i'm not sure if the theft covers replacement cost or my equipment's actual worth at the time it's stolen. you are a lot more prepared than i am. how are you going to use 2 trimmers, three mowers, and 2 blowers if your solo?
The state does not require bus lisc or sales tax for service companies except for chemical applications (applicators lisc), but most cities do. Yes if any employees you must have federal tax id. If unsure about it as solo talk with your accountant or tax advisor. You just have to read the ins policy or talk with your agent.
