How much $ before going legit?

Discussion in 'Lawn Mowing' started by Husky03, Nov 28, 2004.

  1. Husky03

    Husky03 LawnSite Senior Member
    Posts: 432

    Next year I plan on getting liability insurance along with commercial driving. I will also be sure to claim ALL earnings and pay taxes. These are the things I know of to become legit. I do not need a license. Anyways back to my question. How much money do you need to be making per season part time to even consider going legit. I plan on mowing only next year no snow. If I continue mowing at the rate I did this year with a few more accounts I will probably make $10-12 thousand dollars. Is this enough money to go legit. I am NOT saying I will continue to mow illegally, I am saying I will wait until I am out of high school when I can go full time. What do you think?

  2. tiedeman

    tiedeman LawnSite Fanatic
    from earth
    Posts: 8,745

    that sounds legit to me
  3. Husky03

    Husky03 LawnSite Senior Member
    Posts: 432

    Read the whole post. :)

  4. SodKing

    SodKing LawnSite Bronze Member
    Posts: 1,648

    I should hope you have been claiming your income on your personal income tax return or your parents. If you haven't, shame on you.
  5. muddstopper

    muddstopper LawnSite Silver Member
    Posts: 2,342

    Not knowing how much you netted last year, Is the 10 or 12 thousand gross or net. And the fact that you are still in high school, youmay or maynot have a tax liability. Its been a while since I had to figure the taxes for my kids. You would figure your tax liability after you deducted all of your expenses. This would give you your net income, the amount that you would pay taxes on. The IRS has certain tax credits for people still in school. Check with a tax person to find out what they are and how they apply to you. Any income will nessecitate filing a tax return but that doesnt mean you will owe taxes. I am not sure of this ,and it may of changed but, a child living under there parents roof, and depends on their parents for over 50% of their support, and doesnt make over $10,000, they dont have a tax liability. Not sure if the numbers are correct so check with a tax person to be sure.
  6. Husky03

    Husky03 LawnSite Senior Member
    Posts: 432

    I made a total of $7,000 this year. This was after I paid for gas and other mowing expenses. Pretty much all of this money went right back into the business. I just bought my new ZTR and everything for next year. I do not have insurance yet. I know absolutely nothing about taxes. I am trying to figure everything out so next year I will be able to do everything right. I am having my parents call next week to set up a time to go talk to their tax man and insurance man. My question is how much do you have to make for it to be worth your time to run a legit business part time? I do not want to be working for nothing and breaking even just to pay my bills.

  7. Norm Al

    Norm Al LawnSite Bronze Member
    Posts: 1,227

    I am NOT saying I will continue to mow illegally.......did your parents tech you that it is ok to be a criminal?

    before you make $1 you should be "legit" if you dont want to be a criminal!
  8. SodKing

    SodKing LawnSite Bronze Member
    Posts: 1,648

    Well Said...
  9. BrianK10

    BrianK10 LawnSite Senior Member
    from usa
    Posts: 253


    My 12 year old brother shovels sidewalks, and rakes leaves on my street. Is he a criminal?
  10. sailinstud420

    sailinstud420 LawnSite Senior Member
    Posts: 343

    by the sound of things, I asume most of you old fogies never did any work as a child, give us a break....

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