Liability Insurance Quotes

[treeclimber165]

Nope, the guy gave me the form to apply for a FEID number and said that the new law required it. My SS number was unsatisfactory. Now I get my name and ID numbers punched into 57 new computers belonging to many more pencil pushers with nothing better to do than to find errors in my records. I'm afraid if I actually follow through and apply to be 100% legit, I will end up getting audited and screwed in the end.

 

[tophopper]

since your jumping through hoops anyway, take one more step and incorporate yourself.
It cost around 300.00 bucks, you can do it online, it can protect you in the long run, and you may save on taxes.

I incorporated last June. The savings I saw in last years taxes were significant. That alone made it worth my while.

I am not sure though at what annual income figure it is best to consider incorporating. There may not be a tax benefit to it if your income is below a certain number. Im not sure.
If you have a good accountant, they should be able to explain this better than I.

 

[treeclimber165]

First, I do not think it would be profitable for me to incorporate. Second, just the thought of all that paperwork causes me to freeze up in fear. I'm not a corporation, I'm not an employer, I'm a tree climber trying to pay my bills! WHY must it be SO difficult for me to simply be LEGAL?! I only want to do what is legally required so I can go back out and climb a tree and get paid for it.

I do not even have an accountant. The last two kept getting snotty when I brought them my receipts without categorizing them and totalling them first, then they would b!tch about how busy they were because it was tax season. What I need is a wife who can handle the paperwork! NOT incorporating.

See what a mess is created when someone tries to comply with the WC laws? I'm simply trying to comply without getting my name into the top list of EVERY computer in IRS.

 

[tophopper]

Get an accountant, even a sub contracting climber needs a good accountant.
How do you handle your tax reportings? You are reporting your income yes?

If you are a sub contracter, you will be paying taxes on your earned income. You do not recieve a paycheck with witholding taxes so when do you pay? do you prepare at the end of a year and then just pay whats due?

A good accountant can take care of everything for you. I meet my accountant every other month or so. He prepares all the returns and he manages other legal BS throughout the year.

Even doing business as a sub i could not imagine NOT having an accountant. I would fear of overlooking something or making a mistake which would draw attention to me asking for an audit.
If your looking to stay on the straighten arrow and run your business legitimatly you need a good accountant!!

i agree with you 100% Brian, the gov. has all kinds of hoops for small business persons to jump through in order to be legit.
Im just a simple tree guy, Im not an accountant or business major--just a tree guy.

i can tell you this though, I would be lost without an accountant.

 

[treeguy347]

went to buy this year's insurance, and my agent said "I have some kinda bad news and some real good news..." Bad news- Liability/property damage went up to 925 per year. Good news is comp is down from 33 per 100 to 21 per 100. I like that!!!

 

[Newfie]

"What I need is a wife who can handle the paperwork!"

Brian,

I am pretty sure that an accountant would be cheaper.

 

[treeclimber165]

LMAO Mike

Actually, I've taken one step closer to getting all my ducks in a row. I hired a bookkeeper last week to keep me up to date with taxes, quarterly estimated tax payments, which receipts I need, etc. I'm going to let her do what she does best so I can go do what I do best. She promised not to trim any trees if I promised not to try and figure out income taxes.

 

[mikecross23]

Is she reasonably priced? Does she make house calls, errr uh, I mean. . . never mind.