Results 1 to 4 of 4

Llc

| General - Let's talk business
  1. #1
    KrazyK started this thread.
    KrazyK's Avatar
    SMF Badges of Honor


    Member since
    Sep 2012
    Location
    Beatrice, Nebraska
    Posts
    103
    Thanks
    1
    Thanked 32 Times in 23 Posts

    Llc

    I am looking hard at doing the LLC thing. My question is this: Does getting a LLC increase government "attention" (OSHA, DOL, EPA, ....)? I don't plan on having any employees but may have a partner or 2 and may get a subcontractor or 2 for big jobs. I also lease a workshop / (future) retail location. I do everything as "right" as I can I just want to know if I will spend more time with alphabet soup.



  2. #2
    volvoscrapper's Avatar
    SMF Badges of Honor


    Member since
    Aug 2012
    Location
    New Jersey
    Posts
    209
    Thanks
    289
    Thanked 218 Times in 111 Posts
    partner in an LLC some 17 years ago. no extra attention that I experienced. you might want to chat with a local lawyer friend if you know of one. we were planning on corporation but lawyer came up with this llc thing, served its purpose.

  3. The Following User Says Thank You to volvoscrapper for This Post:


  4. #3
    RustyDollars's Avatar
    SMF Badges of Honor

    Member since
    Jan 2012
    Location
    Central Wis
    Posts
    426
    Thanks
    438
    Thanked 533 Times in 213 Posts
    I have been in a LLC for several years. There are some real advantages that you should talk over with either an attorney or an accountant. A couple off the top of my head are of course limiting your liability if something goes wrong and you can have the LLC rent business space from perhaps a building that you might personally own. This creates a tax deductable expense for the LLC but a rental income for you personally which is not subject to SSI, medicare deductions etc. There are several other advantages, but don't rely on an internet forum to get the facts you should seek from an accountant.
    If it wasn't for the $ in $crap, it would just be.....

  5. #4
    Hypoman's Avatar
    SMF Badges of Honor



    Member since
    Dec 2010
    Location
    Indiana
    Posts
    1,269
    Thanks
    2,774
    Thanked 1,332 Times in 513 Posts
    Make sure you know all the laws(epa,state,osha) for your business.... especialy e-waste. I am always finding more regs I have to follow to operate my business. It sucks.












    We sleep safely in our beds because rough men stand ready in the night to visit violence on those who would harm us.
    - George Orwell
    Determine never to be idle. No person will have occasion to complain of the want of time who never loses any. It is wonderful how much may be done if we are always doing.
    Thomas Jefferson


  6. Similar threads on the Scrap Metal Forum

    1. Northeast US Core Buyer.... Maximum Metal LLC
      By MaximumMetal in forum Introduce yourself
      Replies: 5
      Last Post: 02-05-2012, 09:11 PM
    2. sole propieror vs. LLC
      By Bobby in forum General - Let's talk business
      Replies: 25
      Last Post: 09-16-2011, 09:03 AM
    3. sole propieror vs. LLC
      By Bobby in forum Off Topic Discussions
      Replies: 1
      Last Post: 09-08-2011, 01:59 PM

Thread Information

Users Browsing this Thread

There are currently 1 users browsing this thread. (0 members and 1 guests)

 
Browse the Most Recent Threads
On SMF In THIS CATEGORY.





OR

Bookmarks

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •  

The Scrap Metal Forum

    The Scrap Metal Forum is the #1 scrap metal recycling community in the world. Here we talk about the scrap metal business, making money, where we connect with other scrappers, scrap yards and more.

SMF on Facebook and Twitter

Twitter Facebook