Posted by J_Cast/VA on 12/19/12 3:27pm
Msg #447103

Can 2 NSAs operate as one company?

My fiancé and I are looking to combine our businesses into one company and operate as an LLC. I"m trying to figure out the best way to go about this. He's been a mobile NSA for over 5 years and I've been part time but would like to do this full time.

Is anyone else in business with another NSA? If so, how did you structure your biz and handle the accounting/finances?

From my research, it appears that most NSAs operate as a proprietorship. Is it easier or better just to have a proprietorship?

Reply by Jessica Ward on 12/19/12 4:07pm
Msg #447109

I've seen it done

I've considered hiring people, but I feel like I'd want to incorporate and carry additional insurance (to cover employee liability).

There's a company around here that is a partnership. There's also a husband/wife team that work together in my area. Personally, while I might get to the point that I'm willing to hire--I don't think I'd ever run a business as a partnership. Like Dave Ramsey says, it's the only ship guaranteed to sink...

Reply by Shoshana/AZ on 12/19/12 4:08pm
Msg #447111

Generally, I do not recommend partnerships. My husband and i work together. However, the company is mine and we are going on 40 years of marriage. If the purpose is for you to get more work, just market yourself more, or have him give you some of his overflow. You don't say when you are getting married. Changing your status from single to married can be a huge strssor in and of itself. By the way, we are rom the old school. From Day 1 we always combined our finances!

Reply by BrendaTx on 12/19/12 5:57pm
Msg #447132

Yep...Sho...if you cannot trust your partner

with the money, you should not be married.

Reply by Shoshana/AZ on 12/19/12 11:15pm
Msg #447165

Re: Yep...Sho...if you cannot trust your partner

Brenda, a lot of people today like to keep the money separately. I can't understand that. We have always had joint accounts!

Reply by Marian_in_CA on 12/20/12 5:57am
Msg #447176

Re: Yep...Sho...if you cannot trust your partner

Shoot... I'm one of the young ones and *I* don't even understand how some couples keep everything separate like that. It seems so.... weird to me. My husband and I have combined everything from the start, too. We have our own little allowances, but everything goes in to a single pot first and is budgeted out from there.

Reply by Roosevelt Hooker on 12/19/12 7:58pm
Msg #447144

Shoshana when you say that you and your husband work together can you elaborate more. I was wondering does that mean if you take a signing do you tell the SS or Title company that you or your husband will attend the signing? As in do you all operate under one Tax ID number? If so, how do the companies respond when you accept the signing and your husband does the appointment and not yourself? I'm just curious, I wanted to make sure I understood you completely.

Reply by Shoshana/AZ on 12/19/12 10:58pm
Msg #447164

Yes, I absolutely ok it with the hiring party. I am always upfront about that. The company has a tax ID number and all payments are made out to the company. I have been a signing agent for more than 10 years. I have a reputation to maintain. If my husband goes out alone, I go over the paperwork with him to make sure he's familiar with it. Sometimes we go out together.

Reply by MikeC/TX on 12/19/12 4:26pm
Msg #447115

This is something to discuss with an accountant, because there are all sorts of implications. Even if there are others structured the way you're thinking, that doesn't mean it's the right structure for you.

Reply by MW/VA on 12/19/12 7:20pm
Msg #447139

Why not? I think more NSA's should partner-up, frankly.

I'm single & could really use some help. I'd talk with an accountant or someone about how to handle income & taxes. As far as I know, an LLC is still considered a sole-proprietor. Setting up a Corp. would be more complicated. IMO it's all about how you're going to set up the business structure. Good luck!

Reply by Luckydog on 12/20/12 10:19am
Msg #447209

Let him open a business and you work for him. Let him pay you like a regular notary. less confusing, and until you are married + for awhile better keep that area of your life separate. Let him pay the bills, and you reap the rewards of a paycheck. That is my advice.

Reply by BossLadyMD on 12/20/12 1:05pm
Msg #447235

Sure, as many as they want. Seen it hundreds of times. n/m