Starting up a Home Inspection business

[crogers2]

1.Would structuring my one man independent home inspection business as an LLC be neccesary?
2.If so, where would I start when forming an LLC in Texas?
3.How do most inspectors in Texas structure their inspection businesses?

[Michael Larson]

Cody, please go to your control panel and check "include location information".

[Michael Roberson]

Cody,
Im from Michigan, so I cant help you with Texas specific questions.


I have operated as an Doing Business As (DBA) for more than a decade. IF I had an absolutely slamming business to start or restart, I would consider an LLC. The cost to benefit in my case it too cost preventative. Every person has different needs, and different objectives. My accountant told me it would be about 1500- 2000 to get me set up as an LLC that he recommends. Places like Legalzoom.com can do it for far less (if you do the paperwork) but you run the risk of neglecting something.

Hope this was helpful.

[Nick Gromicko]

http://www.nachi.org/inc.htm

[ROBERT W. NEWLAND, JR.]

This may be a good start for info.

[Bryan T. Moree]

I used Legal Zoom for my LLC. It cost $500 total. Also be sure to register your LLC name with the county. Give me a call anytime if you have any questions.
Bryan Moree
Four Corners Inspections
469-247-6955

[Gary Farnsworth]

Don't start your business as of now. Business is very slow. Talk to an accountant or attorney to see what is best for you. Laws vary from state to state.

[ROBERT W. NEWLAND, JR.]

Originally Posted by bmoree

I used Legal Zoom for my LLC. It cost $500 total. Also be sure to register your LLC name with the county. Give me a call anytime if you have any questions.
Bryan Moree
Four Corners Inspections
469-247-6955

I started to use Legal Zoom and realized I would be providing them all the information that the Sec of States website was asking for. I ust used the forms (and instuctions) provided on the Sec of State's website and the total cost was approx $125. Texas may be different though.

[Jeffrey R. Knight]

Originally Posted by crogers2

1.Would structuring my one man independent home inspection business as an LLC be neccesary?
2.If so, where would I start when forming an LLC in Texas?
3.How do most inspectors in Texas structure their inspection businesses?

#3 answer: I would say a lot of them are LLCs.

[Nick Gromicko]

There is no requirement for you to incorporate in the state you live in. It is easier, less expensive, and much better in terms of asset protection to incorporate in Wyoming.

[James A. Levy]

Originally Posted by gromicko

There is no requirement for you to incorporate in the state you live in. It is easier, less expensive, and much better in terms of asset protection to incorporate in Wyoming.

Corporate taxes?

[Richard W. Washington]

Originally Posted by crogers2

1.Would structuring my one man independent home inspection business as an LLC be neccesary?
2.If so, where would I start when forming an LLC in Texas?
3.How do most inspectors in Texas structure their inspection businesses?

The ones I know are either S corp's or LLC's.

[Bruce Thompson]

I'm in TX as an LLC. It is unnecessary; however, I didn't realize that at the time. The only liability you are limiting is if someone were to invest in your business. Then your LLC would protect them from your negligence. Nothing protects you from your own negligence.

I did my own LLC with the TX Sec State and I believe it was about $300. They provide all of the forms you need.

IMHO, just form a DBA. You are still going to pass your expenses and profits through your personal 1040 form (think S corp). The Federal Govt (IRS) doesn't recognize LLC so I just fill out a Sch C each year.

Hope that helps.
B

[Bruce Thompson]

Where you from?

Check the box Michael talked about.

[ldapkus]

Originally Posted by bthompson1

I'm in TX as an LLC. It is unnecessary; however, I didn't realize that at the time. The only liability you are limiting is if someone were to invest in your business. Then your LLC would protect them from your negligence. Nothing protects you from your own negligence.

I did my own LLC with the TX Sec State and I believe it was about $300. They provide all of the forms you need.

IMHO, just form a DBA. You are still going to pass your expenses and profits through your personal 1040 form (think S corp). The Federal Govt (IRS) doesn't recognize LLC so I just fill out a Sch C each year.

Hope that helps.
B

You're absolutely right Bruce, people think LLC and a well written inspection agreement is all you need to start an inspection business. B.S. I have 2 S Corps in Illinois and pay less in annual report filing fees than if I had 1 LLC.