I finally took the leap and started a business.

[75S216E]

And don't forget if you have more than (3) employees in the state of GA you have to have Workers Comp insurance. If you didn't know. Good Luck!

I would recommend no employees to start. Make them all 1099 contractors - less liability and $$$$. JMHO

 

[User170512]

Don't forget your business license(s) and general liability insurance.

Did you get a business license? Knew a guy that ran a business for a year before he got one. He had a LLC too.

 

[Treehawk]

I have worked for myself since 1991 being diversified with the services provided that has been the key to my success . Don't do just one thing and don't work for just one or two people .

 

[Darkdiesel]

I would recommend no employees to start. Make them all 1099 contractors - less liability and $$$$. JMHO

That's a great way to get hammered by the tax man when one of your "subs" gets pissed and reports you. I've talked to a few old timers that did this and lost big time when they layed someone off and the "sub" went to file unemployment.

Just cause you call them a sub doesn't make it true....

 

[letusbuyyourcar]

Best wishes and keep us updated. I've been recently looking into getting a used car dealer/brokers license a d trying to set something up near the GA/Fl line. Takes a good bit of money though.

 

[Willy Leadwell]

I have worked for myself since 1991 being diversified with the services provided that has been the key to my success . Don't do just one thing and don't work for just one or two people .

Depends on what you do. The more I focus on doing one thing, the more successful I have become. Those first few years burned me out because diversification lead to me working my ass off all the time. Once I streamlined my operation to do more of what we specialize in, I work half as much and make twice the money.

 

[Willy Leadwell]

ford guy I’ve been trying to get someone out to my house to take care of a gutter problem for me, but it seems no one wants to show up for a “small job”. I have a run of about 20’ across the back of my house that can’t handle the volume of water in a hard rain. I’d like to take it down and replace it with 6” and add an additional downspout. If you’re interested, shoot me a pm.

 

[Cohutta68]

That's a great way to get hammered by the tax man when one of your "subs" gets pissed and reports you. I've talked to a few old timers that did this and lost big time when they layed someone off and the "sub" went to file unemployment.

Just cause you call them a sub doesn't make it true....

This can work very well, as long as they are a legitimate subcontractor. Otherwise the IRS will disagree with you, and make you pay all kinds of back Social Security taxes and such on them, plus penalties. As well as a bunch of other penalties that are too complicated to discuss here.

It comes down to control. If they control themselves, when they want to work, what kind of jobs they do, their own equipment, have their own insurance... they can be a 1099s.

If you control them, i.e. they wear your shirt and you tell them what time to come to work, what jobs to do, the IRS calls them a W-2.

 

[Cohutta68]

Depends on what you do. The more I focus on doing one thing, the more successful I have become. Those first few years burned me out because diversification lead to me working my ass off all the time. Once I streamlined my operation to do more of what we specialize in, I work half as much and make twice the money.

I agree. This can be a delicate balance, too many services and you cannot scale and train people. Too many tools and items to fit in one vehicle., To few services, and you may be losing easy money.

 

[Willy Leadwell]

This can work very well, as long as they are a legitimate subcontractor. Otherwise the IRS will disagree with you, and make you pay all kinds of back Social Security taxes and such on them, plus penalties. As well as a bunch of other penalties that are too complicated to discuss here.

It comes down to control. If they control themselves, when they want to work, what kind of jobs they do, their own equipment, have their own insurance... they can be a 1099s.

If you control them, i.e. they wear your shirt and you tell them what time to come to work, what jobs to do, the IRS calls them a W-2.

This^^ Lots of employers 1099 employees and it’s fine, because they haven’t been caught yet. Piss off a 1099 employee or get audited and you could have some serious problems on your hands.