just starting out
Printed From: Carpet Cleaning Forum
Category: Carpet Cleaners Discussion
Forum Name: Carpet Cleaners Hangout
Forum Description: General discussion on anything related to carpet cleaning
URL: https://www.kleenkuip.com/forum/forum_posts.asp?TID=2840
Printed Date: 15/May/2025 at 2:11am
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Topic: just starting out
Posted By: clovis
Subject: just starting out
Date Posted: 24/August/2006 at 8:15am
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Does anyone suggest a corporation or a LLC when starting a business. And one other question is who does everyone use for insurance or should I use an insurance guy who is locally in my area.
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Replies:
Posted By: doug
Date Posted: 25/August/2006 at 5:44pm
Shop around for insurance. You don't need to incorp unlsee you are making some serious cash or losing some serious cash?
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Just My opinion
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Posted By: clovis
Date Posted: 25/August/2006 at 8:25pm
Posted By: Mo fo yo money
Date Posted: 27/August/2006 at 10:41pm
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I agree with doug. You are better off with the LLC until you are making alot of money. When you get there, consult a CPA.
Mo
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Posted By: Superglide Ken
Date Posted: 28/August/2006 at 9:19am
Better off WITHOUT you mean.
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Inventor of the Teflon Wand Glide and the Turboteck Rotary Air Duct Cleaners for TMs.
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Posted By: Dennis Conner
Date Posted: 28/August/2006 at 11:37am
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ken...some of us have personal assets that we need to protect. I don't think anyone would go after your brokendown van and chicken!
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Posted By: Superglide Ken
Date Posted: 28/August/2006 at 1:25pm
You would think a business degree would have you knowing better Chuck? The main reason most small companies are better off without a LLC the first 5 years is because most business lose money the first few years. A business set up as a proprietorship can deduct those loses against personal income, and get money back at tax time. The LLC can not do this. By year 5, when hopefully lots of money is being made, the lower tax status of the LLC and better asset protection this enjoys makes more sense.
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Inventor of the Teflon Wand Glide and the Turboteck Rotary Air Duct Cleaners for TMs.
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