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I FOUND IT!!!! the ultimate job

Discussion in 'Lawn Mowing' started by lovdasnow, Mar 19, 2005.

  1. lovdasnow

    lovdasnow LawnSite Member
    Posts: 91

    it's sitting around and collecting all your hard earned money....

    :cry: I'm doing my taxes right now, and I just can't believe or get over how much uncle sam gets. No matter how many times I've paid taxes it still sucks.

    sorry for this random and unproductive post, but I felt like sounding off a bit...

    I do love this country though....
    take care ya all.....Jon
  2. 3sons

    3sons LawnSite Member
    Posts: 41

    I feel your pain. I am new to this business. Last year, I kind of cut "off the cuff". This year, by the time I bought insurance, opened up business account, marketing and finally taxes, I will probably lose money unless I double my prices. Good luck.

    I also agree that this is the best place in the world to live, just wish our goverment officials didn't "live" so well!!!
  3. bigdaddyspags

    bigdaddyspags LawnSite Member
    Posts: 157

    Buy some more things to write off.
  4. David Grass

    David Grass LawnSite Senior Member
    Posts: 485

    The thing most people dont realize when first becoming self employed, is that you pay ALL of your social security. Your employer has been paying half, and taking the rest out of your check up until now. That is the biggest chunk of change most small time businesses pay, and really drives your total taxes up.
  5. David Grass

    David Grass LawnSite Senior Member
    Posts: 485

    Most of you probably do know, that you can write the whole thing off the year you buy it, even if you are financing long term. The following years you should be able to write the interest over and beyond principle as it accumulates for each year.
  6. muddstopper

    muddstopper LawnSite Silver Member
    Posts: 2,342

    If your write the whole thing off the first year, you had better have the income to cover it. You cant write off more than you make.

    PMLAWN LawnSite Gold Member
    Posts: 3,535

    If you have a problem with paying taxes, there is a very easy way to avoid it.

    Don't make any money.
  8. SodKing

    SodKing LawnSite Bronze Member
    Posts: 1,648

    Yes you can. You can use depreciation to your advantage when you need to.
  9. MP350

    MP350 LawnSite Member
    Posts: 185

    I have heard that half of what we make goes to paying taxes ( property, sales, income,etc.) so if the government can't make it on the half we pay them then how are we to make it on the other half ? But yes we do pay a lot for taxes.
  10. SodKing

    SodKing LawnSite Bronze Member
    Posts: 1,648

    Ask Canada

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