making it a business please help me

[Gone Maple]

hello, im looking for some help i have ben making syrup for 11 years now. im trying to start a business in vt but i dont know how to start. i got a lot of Q; who do i talk to, do i need a acountent, do i need a bisiness plan, can i get a tax # and go for it, do i need inshurence. got a lot of money and time tide up time for some write offs.
thanks justin

[Potters3]

Get with a accountant they will be able to help you a lot. And GET INSURANCE, go to the Co-Op or someone like them. You need to make sure you are covered for the bad stuff that could happen. I have a small farm policy with them that covers my house, equipment , sugarhouse as well as crop lose and liability insurance. The policy was just a little more then my regular home owners. But it covers everything.

[sugaringman85]

Not to sure about much of it but i know that for our business we have liability insurance, we are an LLC, we have an accountant, we have a tax #. Many of the things we have are associated with other parts of our business but are an essential part of sugaring as well

[Revi]

We have insurance and have used it a few times because people are nuts around here. I would say turning maple into a business is a good idea. You won't need a tax number because you aren't selling a thing that's taxed, so you aren't paying twice. I would say keep it simple, because it can take over a lot of brain space, and really it's a pretty simple business.

[red maples]

Find a co-op and talk to someone there hopefully they will have a course you can take on startin gup a business. You can also talk with an accountant or a lawyer and they can set stuff up for you too. I went to talk to a lawyer he set up my LLC and registered with the state for me. its not as bad as you might think it is. I thought it was gonna be tough turned out to be OK so don't be overwhelmed. and get a liability policy for your business that will protect your equipment, sugarhouse, and if anyone gets hurt while on your property. Hopefully you already have homeowners ins. and I would recommend an umbrella policy as well they are pretty cheap and cover alot. My liability ins cost $500 a year. the lawyer fee was 600 which broke down into 450 for the business set-up and state registration papers and $150 consulting fee. We already have an accountant. So he keeps everything neat and and clean. I keep my own books and just give them to him at tax time....I use quick books. you might need a Tax number if you plan on selling anything besides maple syrup, like hats, T-shirts stuff like it all depends. We are luck here in NH no sales tax on anything. So just make a checklist and go from there. its a little shot to the wallet for the start up fees but once you get things going its levels off.