So many choices and requirements in the beginning... How did you start your business... LLC or sole proprietorship? Why? What licenses, regulations, permits are required for carpet and upholstery? What are some good agencies for insurance? Anything else that will help will be welcomed info as well. Thank you.
LLC or Sole Proprietorship
- Thread starter BDR
- Start date
ruff
Member
Don't know about SC; every state is a little different.
You can be a sole proprietor and an LLC.
If you are an LLC it will protect your personal property in case of a lawsuit. In CA it costs about $800.00 yearly fees + the cost of starting it.
In TX it is just the cost of starting (not much) and unless you make tons and tons of money (if you do, let us know the secret) no annual cost.
Other than that you will need to file for a fictitious business name (dba.) and potentially for business license (again depends on state and your city.) (in SF I need a business license, TX in the country side, all you need is to be alive.)
Many times local carpet cleaning associations have some decent insurance deals for members. I have my insurance in CA and TX with The Hartford. Some insurance policies will include care custody and control, (if you carry property of others) some will cover workmanship damage, you will need to discuss in detail with your agent.
Use the search feature, I am sure there are tons of good information already discussed previously :idea:
You can be a sole proprietor and an LLC.
If you are an LLC it will protect your personal property in case of a lawsuit. In CA it costs about $800.00 yearly fees + the cost of starting it.
In TX it is just the cost of starting (not much) and unless you make tons and tons of money (if you do, let us know the secret) no annual cost.
Other than that you will need to file for a fictitious business name (dba.) and potentially for business license (again depends on state and your city.) (in SF I need a business license, TX in the country side, all you need is to be alive.)
Many times local carpet cleaning associations have some decent insurance deals for members. I have my insurance in CA and TX with The Hartford. Some insurance policies will include care custody and control, (if you carry property of others) some will cover workmanship damage, you will need to discuss in detail with your agent.
Use the search feature, I am sure there are tons of good information already discussed previously :idea:
Brian R
Member
Between those two I would be an LLC...just remember there are other options out there. Speak with your accountant (disclaimer !gotcha! )
LLC or any corp is really more for tax reasons of course because the corporate veil can be pierced by any good attorney and the liability will be all yours in the end.
You can also start a corp in another state if it suits you better than SC. I hear Nevada's pretty good....again...consult your CPA...and don't cut corners on this part.
LLC or any corp is really more for tax reasons of course because the corporate veil can be pierced by any good attorney and the liability will be all yours in the end.
You can also start a corp in another state if it suits you better than SC. I hear Nevada's pretty good....again...consult your CPA...and don't cut corners on this part.
