My friends and I started up a landscaping business last summer, what legal issues should we be worried about?
August 3rd, 2005 by admin
nick b asked:
We started a “landscaping” company called the Odd Job Squad last summer where we do just about any odd job for people and we have gotten fairly well known throughout a couple of towns by word of mouth and handing out hundreds of flyers. We have been making enough money now (about $15,000 a summer between 3 people) and have become well known enough that we are thinking about registering our company. What does this entail and what could doing this save us from legally (IRS, working liabilities, etc.)? Thanks!
We started a “landscaping” company called the Odd Job Squad last summer where we do just about any odd job for people and we have gotten fairly well known throughout a couple of towns by word of mouth and handing out hundreds of flyers. We have been making enough money now (about $15,000 a summer between 3 people) and have become well known enough that we are thinking about registering our company. What does this entail and what could doing this save us from legally (IRS, working liabilities, etc.)? Thanks!
- Posted in Landscaping
August 3rd, 2005 at 7:28 pm
Get an attorney and make sure your company is registred as partnership and legal. Do all the legal forms and file taxes on time.
Irs.gov has more infos on business.
August 7th, 2005 at 7:05 am
Get with a good insurance agent. They can explain to you what would be your best option as far as doing business as a corp. or LLC.
Also, they can let you know if you would be required to have workman’s comp. That has something to do with how you list your business with the IRS.
You need liability insurance. The liability insurance really isnt too expensive and it is worth the money trust me !!
You just have to cover all of your basis to protect you and anyone that you work for.
I think that is great that it is working out so good for you guys. I like your name !!
A good insurance agent is key here, they will be able to offer you good advise.
August 8th, 2005 at 11:20 pm
i recomment doing what you have been doing.. if you register the company you will be shooting yourself in the foot.. i would have insurance for liability in case your lawn mower hit a stone and it hit someone or broke a car window that is all you want to do ok..
August 12th, 2005 at 7:39 am
I have 2 friends that have there own landscaping business Also one thing that the use all the time is Lawyers. They cost about $200-$500 an hour. I have a company that brings that cost down to about $38-$250 a month. If you are interested we can talk.
You only get as much justice as you can afford. If you don’t know your rights, you simply don’t have any! The top 10% of income earners can afford to have a lawyer on retainer and are accustomed to asking their lawyer for advice before making decisions. What about you?
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If you don’t know your rights, you don’t have any!
August 14th, 2005 at 1:52 pm
You could also connect yourself with the Better Business Bureau. They are are a great organization and can really help you learn ways to expand and protect your business.