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shocked at taxes i owe

jbob

LawnSite Member
Location
south ms
had a buddy come by and help with my taxes. he has turbo tax loaded on lap top puter. so we where going to do taxes on it then i was going to have it checked by pro. figured this would save me a few $. 2003 was my 1st year in business and i had all my equipment purchases which i figured would cove me but i am having to use fast depreciation to get taxes down.
 

TheKingNJ

LawnSite Senior Member
This year i owe 469 buck. It sucks
 

turfcare

LawnSite Senior Member
Location
Winchester, TN
I ended showing where I broke even. It won't be that way this year though. I am solo and it turned out better than I ever imagined. Advice: Keep up with ALL your mileage. It will help you out.
 

twins_lawn_care

LawnSite Senior Member
Broke just under even this first year, so taxes did not make too much of a difference. This year, we hope to turn more of a profit, but also upgrade to larger equipment. Like stated before, if you're paying taxes, you're making money.
Hopefully it will be a good year for me and Sam!
 

bugspit

LawnSite Senior Member
Another subject that gets under the skin.

If you hate the IRS and paying taxes, and wish you had more of your earned money, there is a better way.
Check this site out, it's something that is getting some attention and gaining momentum.

http://www.fairtax.org/
 
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