Need advice

[Glenn1]

I am starting a small excavating business, part time at first and need to incorporate. Does a LLC offer the most protection or is there a better way? I have purchased 1mil liability insurance.

 

[Indydirtfarmer]

First off, Howdy Neighbor! (I'm in Louisville too) What I'd suggest is to spend a few dollars (in the grand scheme of things) and go visit a good attorney that practices business law. That, and get a GOOD accountant. They can save you far more than their initial cost, in a short timespan. Let them suggest what looks best FOR YOUR PARTICULAR SITUATION.

I have 2 seperate small business's. Both are LLC's. That is best for me, but not neccisarily for everyone. I know enough to know I DON'T know it all..... I turn to someone who I think DOES, in the legal sense.

Also, on a different note, PM me with a contact #. I do new lawn installs, and I'm in need of a smaller excavator from time to time. Might be able to send you some business.

Good luck!

Bill

 

[Glenn1]

Thank you for your reply. I plan on visiting a lawyer prior to making the final step. I was trying to educate myself and hopefully do some of the grunt work. How do I send a private message?

 

[Unclebuck257]

Glenn1,

Like you've already been told, the best thing to do is pay the money and get the expert legal advice on which type of a corp would be best for you. I owned a rather large corporation several years back and it was a Sub Chapter S type corp. In that type of a corp, all the profits flow back to you as income, but you still have the protection of the corporate vail.

For me at the time, that was the best way to go. Now, I have a "C" Corp, as that is the best way for me at this point.

It all depends on what you want, and how you want it, as to the best filing for you.

 

[Indydirtfarmer]

</font><font color="blue" class="small">( Thank you for your reply. I plan on visiting a lawyer prior to making the final step. I was trying to educate myself and hopefully do some of the grunt work. How do I send a private message? )</font>

Out to the left of the posted thread is the name of the person who posted such. Click on that name. It will take you to their bio page. Scroll down a bit, and you will see a link to send a personal message. There you have it. You will see a "letter" flashing at the top of the page when you recieve a PM.