[Buckley]

Firearms' law is important, but let's get into business law for a bit.

You need to be incorporated and run your training through your corporation. An LLC is fine as well. If you form a corporation, you'll want to file a "subchapter S" election. If you are a LLC, you can elect to be taxed as a corp, and then file the sub-S, but get the advice from your accountant first.

You need to be insured. The NRA offers insurance.

You need a general waiver and release/Assumption of risk (Happy to provide you a complimentary copy of the one I drafted for myself). Send me a regular e-mail. My PM is getting full.

If you operate under a Fictitous Name (AKA, DBA), it must be owned by the corporation or LLC, and NOT you personally. If you messed up, it can be remedied.

Once you incorporate, get your fed tax ID #, and open a checking account. Bring all revenue through that account and pay your company expenses through it. Pay yourself through that account as well.

Never pay personal expenses through your business accounts. This can assist a plaintiff's lawyer in "piercing the corporate veil", and is a no-no. Do not use the corporation/LLC as your 'alter ego", this is also bad.

 

[NavJAG06]

From one attorney to another, I compliment you on your sage counsel to the members of this forum. Protection of assets as you recommend and insurance against liability are essential in a profession / business where there is inherent exposure to risk and liability. Thanks for your continued contributions to the discussions.

 

[Buckley]

From one attorney to another, I compliment you on your sage counsel to the members of this forum. Protection of assets as you recommend and insurance against liability are essential in a profession / business where there is inherent exposure to risk and liability. Thanks for your continued contributions to the discussions.

Not to mention ours. And damn, if we do both?

 

[Franklin]

You rock Buckley
This is great advice. It is also great advice for ALL businesses that are not firearm instructors! There are great tax benefits for the LLC or S Corp. regardless of liability. Just good business.
Your good.
Thank you very much for your kind and "thankless...profitless" advice. I am positive that all at Florida Concealed Carry are grateful for ALL your thoughts to date, I know I am.
The good news it guys like you will always stay very busy. Good people don't forget guys like you. The others...you don't want anyway.
Franklin:ak

 

[Buckley]

You rock Buckley
This is great advice. It is also great advice for ALL businesses that are not firearm instructors! There are great tax benefits for the LLC or S Corp. regardless of liability. Just good business.
Your good.
Thank you very much for your kind and "thankless...profitless" advice. I am positive that all at Florida Concealed Carry are grateful for ALL your thoughts to date, I know I am.
The good news it guys like you will always stay very busy. Good people don't forget guys like you. The others...you don't want anyway.
Franklin:ak

I subscribe to the theory that life is best when you look out for yourself and a little bit for the other guy. I think I heard it as a kid on Mr. Smith Goes to Washington.