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Help me cover my assets

Discussion in 'Commercial Snow Removal' started by Groundbreaker, Jul 20, 2001.

  1. Groundbreaker

    Groundbreaker Junior Member
    Messages: 13

    I'm putting together a small plowing service for residential and comm. ( a gas station or two, ect.) Not sure if I should go sole prop., LLC or what . Any real life suggetion welcomed. Thank you.
     
  2. Rooster

    Rooster Member
    from Kansas
    Messages: 650

    If I was you, I would check with an attorney in your area.

    They would know the best way for you particular situation.
     
  3. SlimJim Z71

    SlimJim Z71 PlowSite.com Addict
    Messages: 1,031

    I'm in the same boat, small business. I'm set-up as a Sole Proprietorship. It's easier come tax time, and not as expensive. The important thing to remember is to get the proper insurance. It would be a good idea to check with an attorney though... just to be on the safe side.

    -Tim
     
  4. plowking35

    plowking35 2000 Club Member
    from SE CT
    Messages: 2,923

    We were a SP for 10 yrs, and as of 1-01-01 we are an LLC. Why to help protect our personal assets. We did use an attorney, but most states will allow you to set up the LLC for less than $ 100.00
    I think some shy away from LLC because they may percieve a higher level of prtection from a INC. However I see some very high profile businesses using the LLC, so I think it is pretty secure.
    As far as tax purposes, an LLC is the most simple for of a corp to handle tax wise.
    Dino
     
  5. Jay ALC

    Jay ALC Senior Member
    Messages: 124

    I am just sorta going through the startup part of plowing even though I have been in lawn care. I would like to stress what others said about insurance. If you have the right insur. you should be ok. I myself am still sole prop. for tax reasons but will eventually incorporate.