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  #11  
Old 03-16-2001, 05:24 PM
ShortCuts ShortCuts is offline
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Join Date: Aug 2000
Location: Maine
Posts: 38
Thanks for the responses....This is certianly a learning expirence. How much do you guys spend a year on a CPA?
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  #12  
Old 03-16-2001, 10:01 PM
E-man E-man is offline
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Join Date: Jan 2001
Location: PA
Posts: 136
Get publication 946 from the IRS. It lists all the ways to depreciate any kind of equipment. It is updated yearly, but most of the information never changes. It covers everything from 179 Deduction, MACRS, and Listed Property.

http://www.irs.gov.com

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  #13  
Old 03-17-2001, 08:14 PM
eslawns eslawns is offline
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Join Date: Jun 2000
Location: Portsmouth, VA
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Get a CPA who knows something about contractors. They will be familiar with this. Also, at the IRS site you can order a CD from them called the Small business resource guide. Best money you will spend is on a good tax man. What good would it do to make a lot of money, just to let Uncle Sam get it all?
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  #14  
Old 03-20-2001, 10:05 PM
Grateful11 Grateful11 is offline
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Join Date: Apr 2000
Location: Salisbury, NC
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>How much do you guys spend a year on a CPA?


Right now my business is quite small and my CPA does all my work at Tax time. He does all my tax work for $175. He's worth every penny.

As far as righting off, he wrote my main mower off in a one year period. Instead of depreciating it out over a period of time.
Grateful
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  #15  
Old 03-25-2001, 03:15 PM
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jeffyr jeffyr is offline
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Join Date: Jun 2000
Location: Northern NJ
Posts: 876
I pay $425 for my biz and family. And I think he is worth every penny of that. It all depends who you are comfortable with. My acct also takes care of investing, life ins, and now mortgages and can advise on all. He is the owner of the corp. so I know he is working hard for me (and year after year the results are there).

jeffyr
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  #16  
Old 03-25-2001, 06:51 PM
dmk395 dmk395 is offline
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Join Date: Sep 2000
Location: Ma
Posts: 959
Everyone is telling you the right advice, get a CPA. Also I would look into purchasing the Quickbooks accounting package. This way you will develop some knowledge about accounting and it will be easier for the CPA. First things first though, get the CPA.
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