Pennzoil Platinum $2.38 a quart

Discussion in 'General Industry Discussions' started by topsites, Apr 27, 2006.

  1. topsites

    topsites LawnSite Fanatic
    Posts: 21,653

    That is a full synthetic oil, grades range from 0w-20 or so to 10w-30
    It is being sold at Advance Auto Parts, limit of 6 quarts and it involves a 15-dollar mail in rebate (make sure you do this mail bit or it's a waste - it hurts to do this at first but once I got used to it, some mail-in rebates rock).

    I bought my 6 quarts, the rebate's in the mailbox, this is how I ALWAYS buy my oil, I NEVER pay retail, not even close... Got close to 100 quarts of oil, all of it at prices at least as good as that.

    See how I can afford premium, lol
     
  2. CBramble

    CBramble LawnSite Member
    Posts: 66

    So they are paying you for your oil? 6 X 2.38 = $14.28.

    Pretty good deal then if you ask me!
     
  3. topsites

    topsites LawnSite Fanatic
    Posts: 21,653

    No, I'm not sure you got it exactly but close: You pay some retail price of about $5 / quart for 6 quarts it is close to 30 dollars, then keep the receipt and grab a mail-in form (ask if you don't know where the forms are) and make SURE you fill this out when you get home: fill out the form, write the address it tells you to send it to on an envelope, enclose form and receipt in the envelope. 2-4 weeks later, you get a check for 15 dollars which refunds you for a part of the original sale price (30-odd original sale minus 15) and now it is 2.38 a quart, after the rebate check which you deposit in the bank along with your customer's checks assuming you bought the oil as a business expense.

    Takes 5 minutes on your part and again you have to make sure to fill out the form and mail it in or you will not get the 15-dollar check and you spent 30-odd dollars so do this, but yeah it's a good deal.
     
  4. CutInEdge Lawn Care

    CutInEdge Lawn Care LawnSite Senior Member
    Posts: 677

    How are you showing this in your tax returns? Are you showing as Income, Reimbursement, gift, etc... Are you paying additional taxes on money? If you get audited what proof are you keeping that your not trying to hide money.
    I like the method of never letting the left hand know what the right hand is doing or vise versa for you lefties. Just my .o2stupids
     
  5. topsites

    topsites LawnSite Fanatic
    Posts: 21,653

    The oil is bought via company credit card thus it is an expense.
    The check goes in with deposits thus it is income.
    Just keep it simple, it's the easiest way.

    Under expenses, you need to decide whether you itemize automotive or you just take the standard mileage deduction.
     
  6. CutInEdge Lawn Care

    CutInEdge Lawn Care LawnSite Senior Member
    Posts: 677

    If you are showing the check as income you are paying double tax on it. Your paying tax on it when purchase and then you are paying tax on it as income which is much higher than the 6% or higher sales tax. If you are in the 30 to 40% tax bracket then you are paying that much tax on the $15 that you are getting a refund on claiming as income.
     
  7. grassmanvt

    grassmanvt LawnSite Senior Member
    Posts: 906

    I'm all for paying my fair share of taxes but, for a couple dollar rebate, I think I'll pocket it instead of having yet another transaction to enter and paperwork to clog up the files. Also, as previously stated, you already paid taxes on it.
     
  8. topsites

    topsites LawnSite Fanatic
    Posts: 21,653

    well lol the thread is about full synth for 2.38 a quart and where to get it and how to get your money straight, what you guys do about taxes that is your own thing you will have to worry about this :laugh:
     
  9. LindblomRJ

    LindblomRJ LawnSite Silver Member
    Posts: 2,570

    Its still Penzoil. I refuse to put it in an engine.
     
  10. grassmanvt

    grassmanvt LawnSite Senior Member
    Posts: 906

    Ya know what, I saw the thing about taxes and forgot all about the oil. That is a great price for synthetic.
     

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