Tax write-offs

Discussion in 'Business Operations' started by Titans Fan, Jan 26, 2007.

  1. Titans Fan

    Titans Fan LawnSite Member
    Messages: 96

    Just curious about what you guys write-off on your taxes?

    Any ideas other than gas, mileage, equipment depreciation, repairs, insurance, work clothes?

  2. Fantasy Lawns

    Fantasy Lawns LawnSite Bronze Member
    Messages: 1,912

    Best advice is too get a CPA .... that's what they get paid fore .... EVERY Business Owner should seek out a Professional when it comes to such services

    You hit many of the "basic" deductions ....but the list must be catered to your specific application ....solo vs inc or llc ....

    Good Luck .... I just got my stuff back from CPA today n gave the W-2's out just an hour ago
  3. WJW Lawn

    WJW Lawn LawnSite Bronze Member
    Messages: 1,330

  4. cantoo

    cantoo LawnSite Silver Member
    Messages: 2,910

    Gas, parts, repair costs, all office materials, computers, oil, office furniture, work clothing, advertising, vinyl logos, % of costs of personal van, % of hydro, %of wood heat, % of house repairs, barn and shop repairs, tools, snacks, % of meals away, trade shows, equipment purchases, and on and on. Claim everything you can but also make sure you claim every cent you make. Cash = you having to answer difficult questions.
  5. Fantasy Lawns

    Fantasy Lawns LawnSite Bronze Member
    Messages: 1,912

    I use QB too help me with all "stuff" my monthly 941's I do Quarterlies, UT-6, 940's I have my CPA crunch em out ....n than my yearly & W-2's she has ready this time of year

    With QB I could do it all my self ...but I like a CPA so when I get my yearly audits fore WC they go to her office n her girls get all the paper work ready n a work space foe the bean counter

    Just like when I got my SPA loan was just more professional to have em answer financial numbers

    N I sleep very well
  6. wowmowwow

    wowmowwow LawnSite Member
    Messages: 209

    im going fulltime this yr and taxs are the scariest part to me. thanks
  7. GreenN'Clean

    GreenN'Clean LawnSite Bronze Member
    Messages: 1,512

    I write off just about everything
  8. ozd12005

    ozd12005 LawnSite Senior Member
    Messages: 342

    I just bring all my numbers in to my CPA and let him do the magic. There are soooo many different write off's that I had no clue about
  9. Envy Lawn Service

    Envy Lawn Service LawnSite Fanatic
    Messages: 11,087

    Yeah, you need to seek out a professional... or work on becoming your own full-service accountant in your off-season spare time.

    I do my own books A-Z.... but what Fantasy Lawns had to say is also important.
    His method IS best for most people.
  10. Uranus

    Uranus LawnSite Bronze Member
    from Mass
    Messages: 1,624

    I wort off $400 for a golf tourny. Thank you MDA. Local radio station and MDA sponsor an outing every year for $100 per player.

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