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Discussion Starter · #1 ·
So I am in the process of trying to get a class A. Everything seems pretty self explanatory. I only have two questions about the Assets they need listed at the bottom of the page. Is long term debt considered your home? what about the equity built in the home? Also if you are planning on setting the business up as a LLC. Should I even list any of these things or keep them separate because as I understand it with an LLC they can not come after your personal stuff if the company goes belly up. This is in Virginia.



Thanks.
 

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I think this is business only. I would also assume they are going to want a personal financial Statement as well.

Have you taken all the tests required for the class a? I've got a few books that have been sitting in my office for a while now for the va test but haven't gotten around to start the process.

What kind of carpentry you doing that needs class a?
 

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Discussion Starter · #7 ·
Me and my partner have both taken the tests before and passed but that was years ago for different companies (we were representatives of other companies) he still has his books I no longer have mine. I just never set it up myself before. Not sure if houses are considered long term debt if you have equity.
 

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I would suggest hiring a good CPA to help you with this. They will bring everything to light and you can even pay them to the financials for you. What book keeping program do you use to track your profits and expenses?
 

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Discussion Starter · #9 ·
I would suggest hiring a good CPA to help you with this. They will bring everything to light and you can even pay them to the financials for you. What book keeping program do you use to track your profits and expenses?
Thanks for the info. We do not use any software yet but I was looking into quick books.
 

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Discussion Starter · #10 ·
I think this is business only. I would also assume they are going to want a personal financial Statement as well.

Have you taken all the tests required for the class a? I've got a few books that have been sitting in my office for a while now for the va test but haven't gotten around to start the process.

What kind of carpentry you doing that needs class a?
We had taken them before when working for and representing other companies. He kept all his books from back then. We plan on doing major home renovations and remodeling, basically if you can think it we will so it minus some things we would sub out like carpet (don't want to compete there)
 

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The license in VA always belongs to an individual and never the Company. If you are a sole-prop the commonweath will check so you need to be pretty accurate. Basically the state wants to know if you have the finances to support work in your catagory. You can always call the folks at the DPOR office in Richmond. They are pretty helpful to those that aren't jerks.
 
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