Would love to see and understand the type of system you are using for people to book your dumpster rental you have said that the system you have come up with is so simple that almost anybody can park
I am 60 years old semi retired looking for a fun little hustle. I was recently at my local dump getting rid of a patio cover i tore down and i noticed these dumpster trailers. Since then I have been watching youtube videos on the subject. Yours are good. Thank you for posting. Ill keep watching.
Hey Steven! Thanks so much for pointing that out! I really hope that my content is relatable in nearly any situation! Truth doesn’t care who uses it for what purpose! God bless! 😎
My situation does NOT require a USDOT. However, I do believe I need a INDOT which is a small % of the headache and work to set up and operate. We all have to have commercial insurance doing this work. I’ve been priced at $300-$450 which depends on the total value ( dollar amount you want covered). I’ll be talking about this in a future video but you MUST have the commercial insurance. A personal policy will not cover any claim involving personal injury, truck, trailer, other person’s vehicle if they find out you were operating a “for hire” business at the time. They will somehow, someway find out and get themselves off the hook. (My dad was a claim’s adjuster with an insurance company for well over 25years)
A lot of misinformation here. Corporation has the best tax benefits. It does everything that an LLC does only better and you don't pay near as much in taxes. Also you can setup a Corporation as a single owner and operator of the business. It does cost more to setup but the tax benefits will pay for that difference in the first year.
I made a video about How I setup my LLC for my dumpster rental business. But you need to go to your state’s website for business and how to create a business and they will walk you through it all. Hope that helps. It cost me $95 to create the LLC and it was less than 24 hours to be official.
INC authority does them.. they have alot of other paid options. But file for you for free. They file it for you and do the EIN number.. you just pay them the states cost plus mailing you your full formation. That was $29.00 . They will want you to get other services. But you don't have to do it.
As I’m still learning myself, I think there’s a larger market in junk removal than a simple dumpster business overall. Having said that, I think there’s more money per headache of a job in dumpsters than junk removal. From all my research, junk removal seems to be a stepping stone to dumpster rentals that people eventually go towards. Hope that helps!
Reason I ask is I recently set up my LLC for this type of business and my accountant said to do that or look into leasing the truck to the LLC, if allowed. I'm still trying to figure out what to do.
I’m in the process of figuring those things out. I’ll be making a video about this but in short my understanding is that the LLC allows for a form to be filled out that allows equipment/vehicles/ect. to be used by the LLC even though it’s still personally owned by someone else(even the owner). Thanks for the great question! God bless!
@@scottsullivan2407 I’ve always been told to lease it to your company. That will be a write off for the company but at same time I guess you have to claim that as person income? Guess depends on which is better tax break lol.
LLC is superior since you can elect to be taxed as an s corp as an llc with the irs. There are less requirements of an llc (no monthly board meetings required).
Hey thanks for the information. I’m in Columbus Ohio and also getting my dumpster rental business started. Having trouble finding a website that I can use to get a LLC. Do you mind telling me one that I can use?
Hey there! Thanks for the question! I simply went to my in.gov website to create my LLC, which took 15minutes. I’m sure there’s something else out there to help talk you through it but I’m not sure what else would be best! Sorry! Hopefully your state’s website is easy enough to walk through it!
Lol, they can still sue you as the operator and or owner. LLC wont protect you. It would protect you if the business is sued only. A smart lawyer will go after you and your business.
As of right now it's through Progressive but I'm shopping around in the meantime to see if there's cheaper options! Once I'm firm on my decision I'll be making a video about it all! God bless!
Would love to see and understand the type of system you are using for people to book your dumpster rental you have said that the system you have come up with is so simple that almost anybody can park
I'm gonna try an do a trailer rental business wish me luck
I am 60 years old semi retired looking for a fun little hustle. I was recently at my local dump getting rid of a patio cover i tore down and i noticed these dumpster trailers. Since then I have been watching youtube videos on the subject. Yours are good. Thank you for posting. Ill keep watching.
Did you end up doing this?
Thank you for your knowledge and straight to the point
Man thank you for this information! Exactly why I needed. I appreciate your time. 🙏🏼
So happy to help! Just learning along with everyone, trying to document my journey haha
Thanks for posting this, the legal side of the business is what I am clueless about
I was too but I’m trying to get all my ducks in a row haha it’s too important not to! God bless! 😎
@@danielthedumpsterhelper Thank you! Hope you do well in this business
Great info!!🤙🏽
How many miles does your truck have now?
Did you have to get your dot numbers
What i like is that i can take your advice and apply it to any business! Subscibed!
Hey Steven! Thanks so much for pointing that out! I really hope that my content is relatable in nearly any situation! Truth doesn’t care who uses it for what purpose! God bless! 😎
Who did you use for insurance? I am having hard time finding anyone to insure this type of work.
I will be making an insurance video for every aspect of all the different types of insurance in my business. Stay tuned!
Getting everything situated and jumping head first. Will keep you posted lol
Awesome!! Congrats! Let us know how things are going!
Do you have to get a DOT to operate ? And do you have to have commercial insurance?
My situation does NOT require a USDOT. However, I do believe I need a INDOT which is a small % of the headache and work to set up and operate.
We all have to have commercial insurance doing this work. I’ve been priced at $300-$450 which depends on the total value ( dollar amount you want covered). I’ll be talking about this in a future video but you MUST have the commercial insurance. A personal policy will not cover any claim involving personal injury, truck, trailer, other person’s vehicle if they find out you were operating a “for hire” business at the time. They will somehow, someway find out and get themselves off the hook. (My dad was a claim’s adjuster with an insurance company for well over 25years)
A lot of misinformation here. Corporation has the best tax benefits. It does everything that an LLC does only better and you don't pay near as much in taxes. Also you can setup a Corporation as a single owner and operator of the business. It does cost more to setup but the tax benefits will pay for that difference in the first year.
How do you start the corporation process? Im trying to start my roll off dumpster business but i wanna do it smart
Can you please give a resource to start the process paperwork for LLC
How much does it cost to start an LLC
I made a video about How I setup my LLC for my dumpster rental business. But you need to go to your state’s website for business and how to create a business and they will walk you through it all. Hope that helps.
It cost me $95 to create the LLC and it was less than 24 hours to be official.
INC authority does them.. they have alot of other paid options. But file for you for free. They file it for you and do the EIN number.. you just pay them the states cost plus mailing you your full formation. That was $29.00 . They will want you to get other services. But you don't have to do it.
In Florida you can make an LLC online with the FL dept of state. It was $138 for Jan 2022 - Jan 2023.
Change the name of the video. There was nothing about dumpster rental business.
Are you filing as s corp?
Nope, LLC! Are you? What’s your situation?
@@danielthedumpsterhelper also LLC, but filing for tax purposes as S Corp
Love your videos man. I got a question? Between the junk removal and the dumpster business which one has a better market for customers?
As I’m still learning myself, I think there’s a larger market in junk removal than a simple dumpster business overall. Having said that, I think there’s more money per headache of a job in dumpsters than junk removal. From all my research, junk removal seems to be a stepping stone to dumpster rentals that people eventually go towards. Hope that helps!
Did you have to "sell" your truck and trailer to your LLC and have the titles registered under the LLC name?
Reason I ask is I recently set up my LLC for this type of business and my accountant said to do that or look into leasing the truck to the LLC, if allowed. I'm still trying to figure out what to do.
I’m in the process of figuring those things out. I’ll be making a video about this but in short my understanding is that the LLC allows for a form to be filled out that allows equipment/vehicles/ect. to be used by the LLC even though it’s still personally owned by someone else(even the owner). Thanks for the great question! God bless!
@@scottsullivan2407 I’ve always been told to lease it to your company. That will be a write off for the company but at same time I guess you have to claim that as person income? Guess depends on which is better tax break lol.
Do u use a CPA (certified public account)?
Yes I will be this year to at least ask enough questions to learn things for myself.
@@danielthedumpsterhelper yea, I figured I would need it once a buisness is big enough
The growing pains of a business are better than the dry, slow, painful death of one haha
Personally I prefer S. Corp over Llc. Taxes as well as the same Llc protections 🤷🏾♂️
LLC is superior since you can elect to be taxed as an s corp as an llc with the irs. There are less requirements of an llc (no monthly board meetings required).
Hey thanks for the information. I’m in Columbus Ohio and also getting my dumpster rental business started. Having trouble finding a website that I can use to get a LLC. Do you mind telling me one that I can use?
Hey there! Thanks for the question! I simply went to my in.gov website to create my LLC, which took 15minutes. I’m sure there’s something else out there to help talk you through it but I’m not sure what else would be best! Sorry! Hopefully your state’s website is easy enough to walk through it!
How do you get customers???
To start getting income. ??
I’m learning that myself but I will have videos on strategies I’ve been working on. I’m along for the ride too! Haha
Go sole prop. No risk no reward.
We all have options!
Lol, they can still sue you as the operator and or owner. LLC wont protect you. It would protect you if the business is sued only. A smart lawyer will go after you and your business.
Who do you have your commercial insurance through? Any recommendations?
As of right now it's through Progressive but I'm shopping around in the meantime to see if there's cheaper options! Once I'm firm on my decision I'll be making a video about it all! God bless!
16 cubic yard interchangeable dumpsters. A 14000 lb GVW bumper pull
trailer. Only a minimum half ton pickup truck needed! AMK LEVEL LIFT