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  #11  
Old 06-12-2001, 04:06 PM
racerdave racerdave is offline
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Join Date: Mar 2001
Location: Somewhere over the Rainbow
Posts: 260
Can you pay yourself and/or your employees to work at a charitable association. Then use this as a tax write off?

example: heavy rain for days, all maintenance is completed, we are all twittling ours thumbs looking for something to do in the short term until the ground is firm enough to mow.

David
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  #12  
Old 06-12-2001, 10:35 PM
dmk395 dmk395 is offline
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Location: Ma
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yup found out what you say is correct, if i lay myself off then the business can't exist. hell it was worth a shot
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  #13  
Old 06-15-2001, 11:15 AM
SCL SCL is offline
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Join Date: Jul 2000
Location: Northwest Illinois
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My wife and I work our business togethher but I thought about "employing" her so we could collect her unemployment in the winter. First my accountant giggled then went over the extra costs to set up this way and dissuaded my thoughts. A guys always gotta be thinking though.
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  #14  
Old 06-15-2001, 06:33 PM
dmk395 dmk395 is offline
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Heck, maybe I should just sell the business to my 16 year old sister, then pay myself as an employee. LOL
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  #15  
Old 06-16-2001, 01:56 PM
John Allin John Allin is offline
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Join Date: Sep 2000
Location: Erie, PA
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Increasing overhead is not a problem if you can charge for the increase, still make a profit, and keep the people working.

Most viable contractors that offer snow removal services (and treat it as a profit center) find that it carries a much higher margin as compared to landscape maintenance.

Don't discount it as an option.
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  #16  
Old 06-17-2001, 11:12 AM
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Sammy Sammy is offline
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Location: Southern-Lower-Michigan
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In Michigan if you are related to the owner, spouse-child, you can only draw for 7 weeks.
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