Register free!
Search
 
     

The Green Industry's Resource Center


Click for Weather
Reply
 
Thread Tools Display Modes
  #81  
Old 04-04-2013, 08:06 PM
Florida Gardener's Avatar
Florida Gardener Florida Gardener is offline
LawnSite Fanatic
 
Join Date: Sep 2008
Location: Humid S. Fl. with sights set on San Diego
Posts: 5,092
Quote:
Originally Posted by J & D Greens View Post
I was being sarcastic about how people figure their net.
Yea, but he brings up a good point. You gotta have a cell either way....no as a biz, it's a write off along with vehicle insurance and maintenance.
Posted via Mobile Device
Reply With Quote
  #82  
Old 04-04-2013, 08:22 PM
weeze's Avatar
weeze weeze is offline
LawnSite Fanatic
 
Join Date: Apr 2011
Location: weezertonfieldville, AL
Posts: 5,319
you guys have alot of unnecessary expenses.

tires for my truck are about $600 and last 6 years. $100 a year. not a business expense since it's my personal truck.

a storage unit?

a p.o. box?

seriously?

i have a garage and a mailbox. both are free each month.
__________________
Reply With Quote
  #83  
Old 04-04-2013, 08:33 PM
J & D Greens's Avatar
J & D Greens J & D Greens is offline
LawnSite Senior Member
 
Join Date: Apr 2008
Location: englewood, Colorado
Posts: 756
Quote:
Originally Posted by Florida Gardener View Post
Yea, but he brings up a good point. You gotta have a cell either way....no as a biz, it's a write off along with vehicle insurance and maintenance.
Posted via Mobile Device
I am solo and I have all my Biz needs accounted for. My wife does all the accounting so that we do keep everything separate as far as truck, equipment, Biz. liability ins., truck commercial ins. and so on. She just rolls her eyes at the $90 gross thing and $70 net. She is aware of everything spent.

Our tax person makes sure of things that would be just better off not claimed on our taxes. She said that it would be better off if we left the phones off as we use them for personal uses also and the % would not be worth a red flag. Clothing is another thing that she cautions about. (I don't go over board).

I guess it is just how you look at things. When you figure everything out.
Should I included my retirement check into my net. Now that would make me fell a little better.
__________________
J&D/Greens
My picture thread;
http://www.lawnsite.com/showthread.php?t=342687
Reply With Quote
  #84  
Old 04-04-2013, 08:34 PM
Florida Gardener's Avatar
Florida Gardener Florida Gardener is offline
LawnSite Fanatic
 
Join Date: Sep 2008
Location: Humid S. Fl. with sights set on San Diego
Posts: 5,092
Why would you not include phone? Do you not use it for business? How is that a red flag....
Posted via Mobile Device
Reply With Quote
  #85  
Old 04-04-2013, 08:53 PM
J & D Greens's Avatar
J & D Greens J & D Greens is offline
LawnSite Senior Member
 
Join Date: Apr 2008
Location: englewood, Colorado
Posts: 756
Quote:
Originally Posted by Florida Gardener View Post
Why would you not include phone? Do you not use it for business? How is that a red flag....
Posted via Mobile Device
Because we have a family plan and they can get you on that if you use the plan 100% write off. So like some-one who uses their personal truck the mileage should be accounted for and if our total plan I am the only one out of four phones using it for biz. and only 25% of one phone on the plan are calls are Biz. related not worth it.

It is kind of like my wife uses the old master bedroom as our office. But it is also her hobby room. So we instead of claiming any of it on our taxes. We just use the three car garage as our shop/office. no one will ever park a car in there anyway, just shop stuff.

I would rather be on the safe side.
__________________
J&D/Greens
My picture thread;
http://www.lawnsite.com/showthread.php?t=342687

Last edited by J & D Greens; 04-04-2013 at 08:59 PM.
Reply With Quote
  #86  
Old 04-04-2013, 09:02 PM
lawns Etc's Avatar
lawns Etc lawns Etc is offline
LawnSite Silver Member
 
Join Date: Jul 2006
Location: Elmer NJ
Posts: 2,271
Been audited twice. Lets say not fun you think your allowed a lot of stuff to write off until tax man says other.
Posted via Mobile Device
Reply With Quote
  #87  
Old 04-04-2013, 09:53 PM
J & D Greens's Avatar
J & D Greens J & D Greens is offline
LawnSite Senior Member
 
Join Date: Apr 2008
Location: englewood, Colorado
Posts: 756
Quote:
Originally Posted by lawns Etc View Post
Been audited twice. Lets say not fun you think your allowed a lot of stuff to write off until tax man says other.
Posted via Mobile Device
That is why my tax preparer leans on the cautious side. She is figuring our taxes so that if we where to be audited (H@RB). The government might owes us a little.

Some people don't even realize that clothing in our Biz should only be written off if you have a your Biz logo on it (hats, shirts).

I would just want to be safe than sorry.
__________________
J&D/Greens
My picture thread;
http://www.lawnsite.com/showthread.php?t=342687
Reply With Quote
  #88  
Old 04-04-2013, 10:08 PM
Florida Gardener's Avatar
Florida Gardener Florida Gardener is offline
LawnSite Fanatic
 
Join Date: Sep 2008
Location: Humid S. Fl. with sights set on San Diego
Posts: 5,092
Quote:
Originally Posted by J & D Greens View Post
I am solo and I have all my Biz needs accounted for. My wife does all the accounting so that we do keep everything separate as far as truck, equipment, Biz. liability ins., truck commercial ins. and so on. She just rolls her eyes at the $90 gross thing and $70 net. She is aware of everything spent.

Our tax person makes sure of things that would be just better off not claimed on our taxes. She said that it would be better off if we left the phones off as we use them for personal uses also and the % would not be worth a red flag. Clothing is another thing that she cautions about. (I don't go over board).

I guess it is just how you look at things. When you figure everything out.
Should I included my retirement check into my net. Now that would make me fell a little better.
So if your portion of the cell bill is $100/mo, you wouldn't write that off...sorry man, that's plain stupid. But when you refer to your accountant as the tax person vs a CPA, it makes a lot of sense.
Posted via Mobile Device
Reply With Quote
  #89  
Old 04-04-2013, 10:31 PM
JContracting's Avatar
JContracting JContracting is offline
LawnSite Bronze Member
 
Join Date: Oct 2011
Location: Champlin, MN
Posts: 1,736
Quote:
Originally Posted by wildstarblazer View Post
You gotta buy tires for any vehicle you drive. So if you have a job you can't say well I make 50K a year minus my $1000 tires so I net 49K. Plus you can't write off tires for your personal vehicle far as I know anyway. So some things are not completely business overhead per say.

You can't "write off" a set of tires for a truck that's not 100% business, you can only deduct mileage ($.554/mi) on that truck and that amt generally covers most repairs except a tranny or engine overhaul.
Posted via Mobile Device
Reply With Quote
  #90  
Old 04-05-2013, 07:26 AM
Landscraper1's Avatar
Landscraper1 Landscraper1 is offline
LawnSite Senior Member
 
Join Date: Jan 2010
Location: Southeastern Ma.
Posts: 712
Quote:
Originally Posted by TFLE View Post
As for support equipment here's how I look at it. If I were an accountant I would still have an air compressor, a garage full of tools, a computer, boots ect. Yes they are business expenses but if I weren't in business I would still have them so I don't get nearly as wrapped up in what they cost because they are things I would have anyway. Might not be the right approach but that's the way I look at it.
As an accountant, those tools would last a lifetime. As a landscaper, you are constantly loosing or breaking tools, and you need more than an average homeowner. One pair of boots will last a few months for a landscaper. How long do you think they would last for an accountant?

Come on people, let's get real. When you start looking at your business as a "real" business, that's when you will get it and be able to grow from there.
Reply With Quote
Reply

Thread Tools
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off

Forum Jump





Powered by vBulletin® Version 3.8.6
Copyright ©2000 - 2014, Jelsoft Enterprises Ltd.
Copyright ©1998 - 2012, LawnSite.comô - Moose River Media
All times are GMT -4. The time now is 05:02 AM.

Page generated in 0.08352 seconds with 7 queries