Starting out

[Bobby]

I am about to set up my business and I already have a truck trailer and most of the mowing equipment. I had planned to do a llc but feel cheated because I will be donating all of the equipment for use with out getting much of a tax break since all of it is paid off. Is there a way to take out a small business loan and have the llc purchased the equipment from me. I would get cash in my pocket and then the business can write off the payments and depreciate the equipment???

If this is a crazy plan sorry for wasting your time it just sounds like it would work.

Also how are small business loans in reference to interest rates payments etc.

Thanks in advance for your replies

Bobby

[Phil Nilsson]

Begin with a 1040 Schedule C

[Bobby]

thank you for the help

[footloose1464]

I am just starting my business and have gotten my equipment through a loan in my personal name. Should I incorporate to protect myself even if I am insured.. Also People have mentioned using contracts for the lawns that I take on. Where would be the best place to find those or have a lawyer write up one for me to use.
If I don't incorporate will I still be eligible for all of the tax breaks? Any information you could give me would be most appreciated as a single mother trying to make it I can use all of the help I can get.. Kimberly