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Question

Discussion in 'Business Fundamentals' started by Bporter, Sep 13, 2007.

  1. Bporter

    Bporter Senior Member
    Messages: 147

    LLC, INC., theese type titles need at the end of the buisness and how do you go about do that.
    Thanks
    Brian porter
    Reliable snow removal
     
  2. Vaughn Schultz

    Vaughn Schultz PlowSite.com Addict
    Messages: 1,565

    With a quick trip to Springfield you can take care of that yourself. The Inc. is for "Incorporated" and LLC "Limited liability company". It is very wise to incorporate your company. This can give you grate tax advantages plus it protects your personal assets from from law suits that your company may have filed against them. There are many many reasons check out this link http://www.1040accountants.com/ its my fathers web site but it has alot of free info on it. Read up on some of the links as it talks about advantages of incorporating and LLC. Then if you decide to do so there is guidance on the process. Good luck
     
    Last edited: Sep 13, 2007
  3. Vaughn Schultz

    Vaughn Schultz PlowSite.com Addict
    Messages: 1,565

    I just checked your name out on the Illinois state website and the good news is "Reliable snow removal Inc" is available for incorporation http://www.ilsos.gov/corporatellc/
     
  4. LoneCowboy

    LoneCowboy PlowSite.com Addict
    Messages: 1,760

    Talk to your accountant.
    And if you don't have an accountant, why not?

    Most states nowadays you can all this online and it's pretty simple.
     
  5. Bporter

    Bporter Senior Member
    Messages: 147

    well I have a guy that takes care of my Taxs he is an accountant but I would like to protect my assests whats the diffrence between INC. or LLC i know what the stand for but do they mean the same thing. Let me know
    Thanks for the very usefull info
    Brian Porter
    Reliable Snow Removal

    Ok Add on to above after looking at that site It sounds like its INC i want to have. Now does it cost alot to do that and how many of you guys are inc. and is it worth it. Cause it sounds like it when it comes to your taxs. And should i do it even though i'm just starting to grow last your I only had on very large no tolerance commercial I only mad 12,000 this year i'm going to add 2 more trucks plus salt. I don't exactly have enough work yet but i'm working on i've picked up a large salt acount and 7 other small acounts. goal this year is 20,000-25,000 i'm praying to the snow gods. Anys about Inc. based on my situation should i do it and is it costly.
    Thanks Again
     
    Last edited: Sep 13, 2007
  6. LoneCowboy

    LoneCowboy PlowSite.com Addict
    Messages: 1,760

    apparantly I'm deaf and dumb on the internet and no one can hear me speak.

    What did I just say?
     
  7. Bporter

    Bporter Senior Member
    Messages: 147

    I know I know I thought about it after awhile and looked at that website some more. Thanks for you help
     
  8. Vaughn Schultz

    Vaughn Schultz PlowSite.com Addict
    Messages: 1,565

    Feel free to call the number on the website :rolleyes: