# My business is done, parterships dont always work



## guyute65045 (Nov 23, 2006)

I'm done.
My partner and I started in 05, with a 1 ton dump, trailer and a tractor.
Partner has always been the money guy, doing books taxes, wheeling and dealing etc....
He was the primary investor and I was secondary investor, I provided the on the ground stuff, operator, truck driver, estimator, then jobsite coodinator and VP as we grew. in 09 we decided to grow and came up with a 7 year plan, which as most business' involves re-investment of profits. by this time he had all but backed out of operations, soley becoming an investor. I was doing everything. In 2 years we went from doing 10,000$ jobs to 1/4 mill$ jobs bonded for 1 million and employing 6 people. All of this I did, we had 2 trucks, a tandem and 20 ton tag, 3 hoes, a tracked skiddy, and an equipment trailer full of tools for pipe laying. While visiting florida in February I told him I could not handle all of it myself any more, taxes-payroll-books-bidding-bonds- in addition to running jobs and running equipment as needed. I have 0 experience in business other then this, he has 30+ yrs. He opted to liquidate rather then help. Needless to say it has not been easy or pretty.
I have landed on my feet scoring a job with my town, free bennies, good pay, 3 mile commute, bonuses etc....

Sorry about the long post, needed to get that off my chest before I ask my question.

I want to start another company, utilizing my design license to design septic systems and do subdivisions. I dont really plan on getting back into large site work if any site work. I just want to be able to design septic systems and do surveying etc...
I am stuck on what will be best strucurally for my co. LLC, Sole proprieter, or inc. 

how do some of you fare with these business structures? old company was an S corp with partner holding ownership and me as an employee, i got f%$#%$ in the end, wnt go that route again. too much to do with state and feds

Thanks in advance for any input.
John soon to be *JB and son surveying and septic design*


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## Upchuck (Apr 7, 2009)

Do you plan on doing this part time while working for town or will this be your full time job?

All the 1 man show designers/surveyors I know are sole prop. If you are going to have employees then corp or llc may be better.


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## tgeb (Feb 9, 2006)

Sorry to hear the business did not work out, that is the nature of partnerships, very difficult form of business.

My business is an S-Corp.

My first thought would be for you to go Sole Proprietor, get your feet wet in the new thing and see how it goes.

If you believe that you will have a lot of exposure, as far as possible law suits/personal injury/professional liability, perhaps an LLC. or S-Corp would be better for you.

I wish you the best.


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## tazmanian (Jul 22, 2010)

my opinion is to do llc. it is easier and it runs through your ind taxes...........no tax ramifications unlike the s corp or sub chapter s or even c corp....................................
but that is my opinion...................
sorry to hear about your business.....................
i am sure you will land on your feet.................


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## guyute65045 (Nov 23, 2006)

I plan on doing it on the side as I got a good job with my town running excavator and driving trucks. I want to protect myself by keeping new co. Separate from personal liability, but don't want tax headaches.


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## denick (Feb 13, 2006)

Guy,

An LLC is simple when it comes to taxes from my experience.

When setting up an LLC or Corp it's your record keeping and accounting that must be maintained separate from personal to afford you personal protection from business liability.


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## knucklehead (Mar 2, 2009)

Who has time for a side job?


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## rino1494 (Jan 31, 2006)

Sorry to hear about your partnership, but happy to hear that you got a steady job. Sorry, I cannot help you on the business end, but I can tell you, that you may be better off with a steady job that is 40 hrs a wk with bennies.


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## ohiohomedoctor (Dec 26, 2010)

Some people are not good partners, like me, at least my wife doesn't think I am. If you ran it on your own then you can do it again. Once you have your own company its very hard to become an employee again. Best wishes!


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## J F (Dec 3, 2005)

guyute65045 said:


> soon to be *JB and son surveying and septic design*



Wasn't most of your op about how _bad _partnerships are? :laughing:


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## Chris Johnson (Apr 19, 2007)

Yea, partnerships have never been successful for me, once I finally learned that valuable lesson I actually started making money...and it's not like I am working any harder either.


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## guyute65045 (Nov 23, 2006)

J F said:


> Wasn't most of your op about how _bad _partnerships are? :laughing:



hahaha true. My son is 6, he likes to sit and watch me CAD. I figure someday hell be running the co and telling me what to do.:thumbsup:


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