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  #21  
Old 02-16-2012, 04:33 PM
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scotts lawn care scotts lawn care is offline
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I use to have an accountant, and then i switched to a CPA. The cpa knows his stuff, he always has an answer for all my questions. Im glad i switched, and he has saved me money, and also found some mistakes that the accountant made.
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  #22  
Old 02-17-2012, 11:54 AM
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JContracting JContracting is offline
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Quote:
Originally Posted by JasonsLawnCare1 View Post
they have a turbo tax for small business owners. it does your personal and business all in one. it's good for a solo operation. maybe not so good for a big company.
It's complete garbage even for a solo op. I tried the home & biz and it was a mess when it came to the mileage logs and vehicle fuel expenses. Wanted to try it out for myself and I then booked an appt with my cpa next week and am returning turbo tax.
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  #23  
Old 02-18-2012, 01:12 AM
Mikegyver Mikegyver is offline
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Location: Longview TX
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Quote:
Originally Posted by scotts lawn care View Post
I use to have an accountant, and then i switched to a CPA. The cpa knows his stuff, he always has an answer for all my questions. Im glad i switched, and he has saved me money, and also found some mistakes that the accountant made.
CPA and accountant are the same thing....
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  #24  
Old 02-18-2012, 12:01 PM
Daily Lawn/Landscape Daily Lawn/Landscape is offline
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You will also love the CPA when the IRS comes to do an audit. Plus, a good CPA will find money that you or an online service won't. The little bit of money it cost outweighs the peace of mind knowing you got back eveything possible and it is done right. They can even inform you of other tax benifits.

James
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  #25  
Old 02-20-2012, 01:02 AM
XYZLawnPros XYZLawnPros is offline
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Ask your accountant/cpa/business attorney or irs monetary terrorist to show you the statute/act that forces you to pay income tax, business tax, state tax etc, beyond the barrel of a gun.
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  #26  
Old 02-20-2012, 01:17 PM
DoetschOutdoor DoetschOutdoor is offline
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Kellys, can you explain anymore about the fuel tax refund? Im a small solo biz. but I take my info to a cpa and he pumps out the numbers. I keep track of mower, trimmer, etc. fuel and then have 1 diesel truck which ends up being alot of my fuel bill. Anymore info so I can sound half educated on the subject when I go in to see him here shortly? thx.
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  #27  
Old 02-20-2012, 03:37 PM
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Kelly's Landscaping Kelly's Landscaping is offline
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Location: Milford CT
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Quote:
Originally Posted by DoetschOutdoor View Post
Kellys, can you explain anymore about the fuel tax refund? Im a small solo biz. but I take my info to a cpa and he pumps out the numbers. I keep track of mower, trimmer, etc. fuel and then have 1 diesel truck which ends up being alot of my fuel bill. Anymore info so I can sound half educated on the subject when I go in to see him here shortly? thx.
Ok the Irs has a fuel tax credit and refund section in their code. They give a list of what's exempt from the national sales tax on gas and diesel. Among them listed is off road use. Gas is currently taxed at 18.4 cents a gallon and if you using it in mowers its off road and exempt from the fed tax.

So how do we track it I guess is your question well for starters every single fuel purchase we make each year and there are some days we have 6 receipts. All of them are made on our amx card and even if we lose or never get the receipt we have a record of the purchase. So then comes the fun part we make a spread sheet off the amx reports and list ever single purchase then we sort the gas receipts and put them in order. Then comes the cross checking part we fill in the missing info on the report the gallons and the price per gallon and when we find we are missing one we now have prices with in days and can work our the missing info. All diesel purchases are removed from the report and when done we can figure out the amount of gallons we bought then we have to assign a % of that that was used off road in our case its very high since we only have one small gas truck left that's only a back up truck. We then calculate the amount of gallons getting credit then the price and figure out what we are owed back we give the report to the accountant and he does the rest.

When we first discovered this we were in our 3rd year and we did the report for the previous years as well so we got them all back.
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  #28  
Old 02-20-2012, 05:06 PM
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JContracting JContracting is offline
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Is there a form you fill out that's available from the IRS, ill be finalizing my taxes Wed and want to make sure I'm prepared upon arrival to my cpa's office.
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  #29  
Old 02-21-2012, 07:27 PM
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GreenI.A. GreenI.A. is offline
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The way I keep track of my offroad fuel use for gas and diesel is that I never fill up the trucks and equipment during the same transaction. For example if I go in the the station with the gas truck and need to fill some 5gallon cans, I first fill the truck and complete that transaction and then fill the gas cans and get a second receipt. Milege is writen on the truck receipt along with truck number and an E (for equipment) is put on the equipment fuel recipt. If we fill the skidsteer or dingo directly, we right that on the receipt as well. The receipts get stapled onto the days work orders before the guys leave the gas station, so that they are sure to return them to me at the end of the day.
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  #30  
Old 02-21-2012, 07:40 PM
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zturncutter zturncutter is offline
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Location: Interior South Florida
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Quote:
Originally Posted by JContracting View Post
Is there a form you fill out that's available from the IRS, ill be finalizing my taxes Wed and want to make sure I'm prepared upon arrival to my cpa's office.
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IRS Form 4136
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