Heys guys, I want to get my business off on the right foot and be a legit company. I have some good questions I hope you guys can answer.
First off I was going to go straight for an LLC, but I read you should just start with a sole proprietorship. From what I understand you would have to go to all the cities you plan on working in and register your name, which could be a couple hundred dollars a year when all said and done.
With an LLC from what I understand you pay a fee to become an LLC and that's it(about $300 for me) Is there any certain advantages to a sole proprietorship that it would be worth paying the couple $100 a year? I know with sole Proprietorship you can be sued for everything you have. What would be a better choice?
Second, Licensing. I did a little looking and I think all I need is a business license, I'm not getting into any landscaping other than mulching and installing edging, small stuff like that, so I shouldn't need a contracts license.
Third, Quarterly taxes. With my LLC they will also apply for my tax identification number and everything else needed. My question is, i'm small right now and I don't have much income for my business, since I don't make very much, will my quarterly taxes be a small amount I could easily pay until I can grow my business.
Registering as a LLC, I have 2 other options for my name if my primary one is taken. I already have everything made up as Peck's Lawn Care. I want my llc to be Peck's Lawn Care LLC, so should I just do a doing business as and make it Peck's Lawn Care so I will have that name no matter what?
I really want to start my business the right way, and my goal is to be completely legit by next year.
First off I was going to go straight for an LLC, but I read you should just start with a sole proprietorship. From what I understand you would have to go to all the cities you plan on working in and register your name, which could be a couple hundred dollars a year when all said and done.
With an LLC from what I understand you pay a fee to become an LLC and that's it(about $300 for me) Is there any certain advantages to a sole proprietorship that it would be worth paying the couple $100 a year? I know with sole Proprietorship you can be sued for everything you have. What would be a better choice?
Second, Licensing. I did a little looking and I think all I need is a business license, I'm not getting into any landscaping other than mulching and installing edging, small stuff like that, so I shouldn't need a contracts license.
Third, Quarterly taxes. With my LLC they will also apply for my tax identification number and everything else needed. My question is, i'm small right now and I don't have much income for my business, since I don't make very much, will my quarterly taxes be a small amount I could easily pay until I can grow my business.
Registering as a LLC, I have 2 other options for my name if my primary one is taken. I already have everything made up as Peck's Lawn Care. I want my llc to be Peck's Lawn Care LLC, so should I just do a doing business as and make it Peck's Lawn Care so I will have that name no matter what?
I really want to start my business the right way, and my goal is to be completely legit by next year.
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