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  #11  
Old 01-09-2002, 06:33 PM
Russ Russ is offline
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Join Date: Jan 2001
Location: Indianapolis Indiana
Posts: 538
CPA

Get a CPA. Call him with questions till he get mad at you, then call with more questions. Lesten carefully to his answers. Dont just hear what you want to. Mow grass, landscape do what ever your good at. Let him do your taxes. These guys are great and can save you a ton of money but remember they work for you.
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  #12  
Old 01-09-2002, 07:46 PM
KDJ KDJ is offline
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Join Date: Sep 2001
Location: Central Florida
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[QUOTE]Originally posted by steveair
[B]Hello,



Also, I hope if you are doing maintenance (mowing, pruning, etc) you have been charging sales tax. If you haven't been, then you are in for a whole other world of headaches.



Have you ever worked in Florida? How can someone in NJ give advice to some one in Florida about STATE SALES TAX?

Your above statement is posted as Fact, but is in grave error.
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  #13  
Old 01-12-2002, 07:44 PM
marcie marcie is offline
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Join Date: Dec 2001
Location: cincinnati,ohio
Posts: 21
tax time

i work for h & r block during the off season so I know your truck expenses are deductable. you will have to have kept great records on your mileage and only business related mileage is deductible. if you are a sole propietor you can do your business taxes along with your regular return using a schedule "c" . if you have more than one truck that you use you will have to use actual expenses and not just mileage. also you will be able to deduct depreciation on truck and equipment, and of course your other operating expenses. be very careful about using the "in home office" it's really only worth it if you rent vs. own your home. if you own your home and use "in home office" will be sorry when you seel your home because then you will have to go back to your tax returns to see how much you deducted and re claim this amount ............ big headache!!
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  #14  
Old 01-12-2002, 08:07 PM
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Fantasy Lawns Fantasy Lawns is offline
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Location: Space Coast
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get a CPA
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  #15  
Old 01-12-2002, 08:32 PM
GroundKprs GroundKprs is offline
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Join Date: Dec 1999
Location: South Bend, IN
Posts: 1,969
A little IRS trick

You must make quarterly payments of estimated tax for federal and most state income based taxes. These payments are due every year on Apr 15, Jun 15, Sep 15, and Jan 15.

This trick concerns the Jan 15 payment of federal taxes only. For most of us, especially those up north, this payment can be almost half of your annual total, unless you have a busy snow service. You can skip the Jan. 15 payment, as long as you file your taxes and pay all monies due by Jan. 31. I use this every year. Means a big chunk of cash gets interest for two more weeks. The biggest advantage to me though is to get all that paperwork done right away, and be free of it when the new season is ready to start.
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  #16  
Old 01-12-2002, 08:38 PM
bruces bruces is offline
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Join Date: Jun 2001
Location: Independence, MO
Posts: 648
Re: tax time

Quote:
Originally posted by marcie
i work for h & r block during the off season so I know your truck expenses are deductable. you will have to have kept great records on your mileage and only business related mileage is deductible. if you are a sole propietor you can do your business taxes along with your regular return using a schedule "c" . if you have more than one truck that you use you will have to use actual expenses and not just mileage. also you will be able to deduct depreciation on truck and equipment, and of course your other operating expenses. be very careful about using the "in home office" it's really only worth it if you rent vs. own your home. if you own your home and use "in home office" will be sorry when you seel your home because then you will have to go back to your tax returns to see how much you deducted and re claim this amount ............ big headache!!
If you use only one vehicle at a time you can use the mileage method on more than one vehicle. If you use the vehicles at the same time, Marcie is correct.

Example, I have two trucks, but work solo. In this example I could use mileage on each for business portion, since I am just using one at a time.

If I have two trucks and 2 crews operating, I could not use mileage because obviously I am using more than one at a time.

It can be confusing, get a tax preparer's advice if you have questions. The best solution and highest deduction can come from different methods in different circumstances.
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  #17  
Old 01-13-2002, 09:10 PM
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65hoss 65hoss is offline
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Spend as much as possible to get the best CPA you can afford. Never can go wrong in that area.
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