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New Kid in Town

Discussion in 'Business Operations' started by lsu03, Feb 9, 2008.

  1. lsu03

    lsu03 LawnSite Senior Member
    Posts: 370

    I'm thinking of starting up. this is what my expenses will be as far as i know so far(estimates):

    gas(whole season)-$400-----no clue really
    oil, string, gloves, ect-$100


    Let's say 6 customers, $30 a cut--$180/week---30 mows, so $5400/year.

    Profit-$5200 give or take.

    am i leaving anything out or does this seem right?
  2. stuffdeer

    stuffdeer LawnSite Bronze Member
    Posts: 1,538

    Your leaving your math skills out, unless I don't see something correctly.

    Everything will cost you 1,240. You say 5400 a year...


    Your profit would be $4,160
  3. dKoester

    dKoester LawnSite Gold Member
    Posts: 3,257

    License and insurance?
  4. lsu03

    lsu03 LawnSite Senior Member
    Posts: 370

    how much is license and insurance and could i even get it at 15 years old?
  5. lsu03

    lsu03 LawnSite Senior Member
    Posts: 370

    haha. yeah stuff deer. thats what i meant. and to think i've had a 4.0 much of my life.:):)
  6. lsu03

    lsu03 LawnSite Senior Member
    Posts: 370

    what is the limit on paying taxes? dont if you make like less than $4000 or something you dont have to pay taxes? my teacher was telling us something like this in free enterprise.
  7. Kortas

    Kortas LawnSite Member
    from Arizona
    Posts: 40

    I hope you're buying your mower used for that price. Certainly won't hold up too long if that's new, as it's not commercial quality. Unless of course you're only doing 6 clients forever.

    But either way. Good for you!! Go for it.
  8. stuffdeer

    stuffdeer LawnSite Bronze Member
    Posts: 1,538

    Even if it was 4,000 you would still have to pay taxes.
  9. greenbaylawns

    greenbaylawns LawnSite Senior Member
    Posts: 564

    Get Insurance! Have your Parents help you. You throw a rock out of that mower and hit something or (someone) , you'll be mowing for free. General Liablity will cost you around 300 for the year
  10. windsory

    windsory LawnSite Member
    Posts: 223

    No the requirement is $5,150 for a dependent under 65 who is not blind. So, if he were to make $4000 he would not be required to file.

    I'm 16 and last year I made well over the minimum for filing and I didn't report it. But, this year I definitely will be, I'm now looking into everything I need to do to become legal.

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