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Need some help.

Discussion in 'Business Fundamentals' started by born2farm, Oct 6, 2011.

  1. born2farm

    born2farm 2000 Club Member
    Messages: 2,310

    Ok guys. I have been asking a lot of questions lately, but since this is my first year being able to do everything legal, I want to do it right. Here is a little background on my operation. I am 18 (almost 19) and I own Goodman Snow Services,LLC. I plow in the winter and farm the rest of the year. I run two trucks in the winter and have finally started selling quite a bit of work this winter. Here is where my road block comes. I know how to price the work, I know how to interact with the customers, I know how to do the work, I am just struggling getting the business side straightened out. I have read the Ohio Business Gateway Website front to back as well as the Ohio Workers Comp Website. I feel like I am forgetting stuff that needs done and everytime I think I have all the appropriate paperwork straigtend something else pops up. This is my first time hiring employees and such so it is just a little overwhelming. I have tried talking to a local business attorney as wel as a few contractors. None of them seem to want to help the young guy, so I turn here. I am going to throw a list out of what I have done. Some of it will be in no particular order. I just need to get some stuff straighted out. I keep selling work and feel like I am just digging a bigger hole for my self. Its not that I cant handle the work im selling, I just wish I had the business straight first. I really need to figure out what my future costs are going to be in order to figure out my rates.

    Here is my list

    1) I am a fully registered LLC. I have all of that paperwork taken care of.

    2) I have a service vendors license as I am required to charge sales tax on certain services. I pay these back quarterly correct? This is something that my tax preparer can help me with right?

    3) Both of my vegicles are licensed as commercial pickups. Anything special I need to do to keep up with these inspection wise (3/4 and 1ton pickups)

    4) I am fully insured. I have commercial auto on both vehicles including plows and spreaders. I also have an umbrella coverage that covers my smaller items from theft. My GL policy is a typical 2,000,000/1,000,000mil policy.

    5) I need to go talk to my tax preparer to get taxes straighted out before it is time to file. I have a well kept record system recording all of my expenses and income. Is there anything else I need to keep track of?

    6) Now on to the hiring employee part. I know I need to get workers comp coverage. According to the website I just go through there application process (form U-3 i believe.) Soes anyone know how Ohio workers comp actually works. The way I am reading it, I do not go to an outside source for insurance, Ohio is one of the states that have there own state set provider and rates?

    7) When I hire, I have to report the new hire with the state. I believe this is all an online application.

    8) I have to file form IT-1 for withholding taxes from my employees paychecks Anything else I need to do employee wise. When it comes to dealing with the Govt. and especially the IRS I want to to everything right. Im sure you guys can understand.

    9) I need to pay into unemployment correct? Any thing else that I am forgetting employee wise.

    Sorry for such a long post guys. I started my LLC venture last March and it has been a learning experience ever since. All of my family farms and has never had to deal with the business stuff like this because farmers are exempt from from things such as workers comp. Like I stated. I have tried to ask around locally, but I guess they view me as a kid still. I am not looking for someone to hold my hand, I just need some guidance. Someone who has maybe gone through this all recently or maybe has a lot of experience that could chime in. PM me if you would rather. I just do not want to lose everything I have worked hard for due to a paper work error or an audit or something I am unprepared for. I hope you guys can look past the fact that I am only 18 and see that I am not a lowballer or kid doing it for fun. I try to help people out on here when I feel my advice is useful. I am doing everything 100% legal and trying to bring some profesionalism back into the industry in my area. I dont usually get stressed out easy. I can deal with the customers, equipment breakdowns, employees, but when it comes to the Gov't and business stuff I admit I kind of lack the knowledge some of you veteran plowers have. I have tried everything I know to figure this stuff out, and as the season quickly approaches I came here for help. Again sorry for the long post, I hope someone is kind enough to help me out a little.

    Thanks in advance guys.
    Last edited: Oct 6, 2011
  2. born2farm

    born2farm 2000 Club Member
    Messages: 2,310

    bump!!! any body willing to give me some advice
  3. grandview

    grandview PlowSite Fanatic
    Messages: 14,609

    Might be a small expense, but some business will hire a payroll company to do the paychecks ,this way if a mistake is made on withholding the are responsible for it. Sounds like you got the duckies in a row. so get some answers for the above people and let us know if your right.
  4. Longae29

    Longae29 PlowSite.com Addict
    Messages: 1,953

    Find a small business accounting firm they aren't that expensive and you can pick the services they do for you a la carte. They can help you with the issues regarding employees, its their job. saves you a lot of time in the long run and allows you to focus on your sales, finding decent people to work for you, etc. Feel free to pm me if you wish