Home Office. No longer a write off!

Discussion in 'Business Operations' started by Charles, Mar 1, 2019.

  1. weeze

    weeze Banned
    Messages: 17,196

    yup you can but how can you know what to expect? things change way too much in this industry. you may get 5-10 new customers or you may only get 3 or you may lose some customers or you may not. you don't really know how it's gonna play out beforehand.
  2. weeze

    weeze Banned
    Messages: 17,196

    that's dumb. if you pay less you aren't gonna invest that money. you are gonna spend it on stuff most likely. either way it's the government's money not yours because of the tax laws we have. they will always have the upper hand. they can just as easily take the money you pay at the end of the year and then invest it for a year. they don't have to use it right away.

    the government needs more money to pay off debt anyways. will they use it for that? probably not but that's not our fault it's theirs.

    anyways none of that matters anymore since i don't work for someone else. i just work for me. i don't claim 0, 1 or anything anymore. i do my taxes myself.
  3. JMK26

    JMK26 LawnSite Fanatic
    Male, from Missouri
    Messages: 14,210

    Didn't you find that result on Google?

    What makes your link more reputable than Tony's?

    You even cited Quickbooks as not putting out urban legends...

    And Quickbooks says it's a myth too....That's odd...when quickbooks gives information that supports your opinion they're correct....when they give information that it's a myth it's suddenly You can find anything on Google to support anything....

    This going to turn into one of your 10 pages of how you're opinion is right because it's you saying it and everyone is wrong tirades?
    tonygreek likes this.
  4. dishboy

    dishboy LawnSite Fanatic
    from zone 6
    Messages: 7,350

    Do you use Quickbooks, I originally saw the guidence there while doing my taxes years ago. I could care less how you file your taxes, it is non of my business. You win , are you happy now?
  5. weeze

    weeze Banned
    Messages: 17,196

    i don't use Quickbooks. they offer it for free when i do my taxes but i never accept it. all i need is a pen/pencil and a notebook.
  6. Oxmow

    Oxmow LawnSite Bronze Member
    Messages: 1,091

    So how many of you are peeking out of your window blinds???
  7. weeze

    weeze Banned
    Messages: 17,196

    i do that every day all winter long. :laugh:
    Doc8406, JFGLN and Mark Stark like this.
  8. danothemano

    danothemano LawnSite Senior Member
    Messages: 348

    Line 30 schedule c, ka poo yah, bummer
  9. thegeo

    thegeo LawnSite Member
    Messages: 19

    First off, I'm not a tax expert. I'm doing a lot of reading about taxes, borrowed some books from the local library. "Small Time Operator" and "Working for Yourself" a Nolo book. Also have a J.K. Lasser 2019 "Your Income Tax" I didn't start yet. It's my understanding that if you purchase books like this you can write them off if they are used for a current tax year. Why buy when you can borrow? This year will be my first year in operation. The write offs that aren't allowed are for employees working for a business, (union dues, work boots, mileage). If you are a sole proprietor the new tax laws are in my opinion a boost. 20% pass through of profits (don't pay Federal Income Tax on 20% of your profits), first year write offs on assets. I met with both an accountant and a lawyer when I was first setting up my business. I asked them both "test" questions, they both failed. The person most interested in your business is you. Plus the books are keeping me busy and out of trouble!
    S&S Lawn Maintenance likes this.
  10. JFGLN

    JFGLN LawnSite Bronze Member
    Messages: 1,996

    That's why you hire/consult with one. My business return is like 25 pages.

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