Hey guys, just wanted to get different opinion or suggestions on having an LLC!
When starting a business in this pressure washing field, is an LLC a no brainer? My first thoughts were absolutely, but being a new member to this site I have seen no matter the topic, a lot of questions or concerns being discussed by a lot off y’all on here and they were all very helpful to the person asking! With that being said, like I said my first thought was absolutely but after seeing so many people getting very helpful information or suggestions I thought that I would post the question of LLC that I have! Just wondering if it’s definately a must no matter the size of business nor whether if your doing res. Or comm. or both! Just wanted to hear your opinions and thoughts about this before deciding for sure! Thanks in advance fellas!
Good thing about an LLC or an S Corp is that the entity is independent of you. If someone wants to sue you, they can only sue the company and not you. Reporting requirements are more than a sole proprietorship but it is not that hard. That is what I have done with my pressure washing/roof cleaning business. With being on and cleaning roofs my exposure is a bit higher. All I need is a consumer claiming I made their roof leak or that their roof needs to be replaced because of my cleaning. Obviously, that is a not a problem I would cause but you never know what a homeowner might claim.
No brainer for me. Liability risk management is one plus. Legitimatesy with your banks, benefits accounting & taxes, many supplier credit apps need a FTI number, etc.
Easy to do & low cost in my state.
