Lawn Care Business Forum Lawn Care Business Book Lawn Care Business Blog Lawn Care Software
Home Forum Contract & Flyer Templates Blog Software Videos Podcast Calculators / Estimators Store Mower Review Design It Yourself Lawn Business School

Go Back   GopherHaul Landscaping & Lawn Care Business Marketing Forum > Lawn Care, Landscaping, and Property Management Forums > Truck, Trailer, and Outdoor Power Equipment Discussion, Repairs.

Truck, Trailer, and Outdoor Power Equipment Discussion, Repairs. Questions on your truck, trailer, commercial lawn mowers, lawn mower, mower parts, lawn tractors, engines, edgers, trimmers, pole saws, aerators, hydro seeders, snow plows, chain saws, stump grinders??

How to get that commercial mower you really cant afford


Truck, Trailer, and Outdoor Power Equipment Discussion, Repairs.

Questions on your truck, trailer, commercial lawn mowers, lawn mower, mower parts, lawn tractors, engines, edgers, trimmers, pole saws, aerators, hydro seeders, snow plows, chain saws, stump grinders??
Reply
 
Thread Tools Search this Thread
  #11  
Old 03-14-2009, 04:00 PM
picframer's Avatar
picframer picframer is offline
Andy
 
Join Date: Jan 2009
Location: Halifax, Nova Scotia
Posts: 2,885
Rep Power: 9
picframer will become famous soon enough
Default

Again, I am honestly pleased you have the mower you want, I hope it brings you hundreds of hours of service and I am sure it will.

I might encourage you to run your scenario by an accountant in your area, I understand fully we are in two different countries and the tax laws are night and day. Here your company would be taxed a Capital Gain based on what you paid and what you received for each mower (Cash does not have to exchange hands, in fact look at it this way, when you buy and sell stock for example, cash is never in your hands), plus sales tax on the trade which would be offset by tax charged for your services.

There may not be any sales tax in your case however I would be very surprised if there is no capital gain, I did work in International taxation 20 years ago, at that time, if the IRS were to audit your company, I do know it would be taxable, but like all things, rules change.

Good luck buddy with the new equipment!
Reply With Quote

Stop guess-timating. Learn how to estimate and make money! $$$
Mow Time Estimator Lawn Care Price Estimator Mulch and Topsoil Calculator Snow Plow Estimate Calculator


  #12  
Old 03-14-2009, 04:15 PM
Steve's Avatar
Steve Steve is offline
Administrator
 
Join Date: May 2003
Posts: 36,603
Rep Power: 10
Steve has disabled reputation
Default

Lawn care business tipsLawn Care Business Book
Is it possible when you trade in a mower like you did that you can get store credit with a value higher than cash when you trade it in? Does that ever happen and would anyone want that if they ultimately intended to use that credit to buy another mower from that dealership?
__________________
- Subscribe to my Lawn Care Marketing Blog Feed and get daily tips sent to you. Free!
Download your Free trial of Gopher Lawn Care Software.
Reply With Quote
  #13  
Old 03-14-2009, 06:41 PM
outerelements's Avatar
outerelements outerelements is offline
Member
 
Join Date: Dec 2008
Posts: 37
Rep Power: 6
outerelements is on a distinguished road
Default

Quote:
Originally Posted by picframer View Post
Again, I am honestly pleased you have the mower you want, I hope it brings you hundreds of hours of service and I am sure it will.

I might encourage you to run your scenario by an accountant in your area, I understand fully we are in two different countries and the tax laws are night and day. Here your company would be taxed a Capital Gain based on what you paid and what you received for each mower (Cash does not have to exchange hands, in fact look at it this way, when you buy and sell stock for example, cash is never in your hands), plus sales tax on the trade which would be offset by tax charged for your services.

There may not be any sales tax in your case however I would be very surprised if there is no capital gain, I did work in International taxation 20 years ago, at that time, if the IRS were to audit your company, I do know it would be taxable, but like all things, rules change.

Good luck buddy with the new equipment!
look, forget I even mentioned this. I have no idea how or why this gotten so off-topic, but it has. I guess I dealt with a shady dealer who could care less about tax laws. Afterall, this is Philadelphia- anything and I MEAN ANYTHING GOES!!!! I didnt budget enough to pay for a 6K SCAG, so I played around a little and was able to get it..HOORAY FOR ME!!!!
Reply With Quote
  #14  
Old 03-14-2009, 06:43 PM
outerelements's Avatar
outerelements outerelements is offline
Member
 
Join Date: Dec 2008
Posts: 37
Rep Power: 6
outerelements is on a distinguished road
Default

Quote:
Originally Posted by SuperiorPower View Post
Hmmmm, it so happens that I am one of those Shops in "bumble-fu**", missouri". First, I don't appreciate the talk, but then again, I understand it does not matter where you are from, other folks who think different than us seem to be "stupid" in our mind. Example, if you are from the city then us country folk may seem to be "stupid" or "simple" as you try to indicate.

But the bottom line is, Mike is exactly right. Here in Missouri it does not matter whether or not it was a trade in or not, whether money was exchanged or not, the dealer still has to charge tax. PERIOD. Whether a dealer is selling new or used equipment, he has to charge sales tax. Again, PERIOD. And before you mouth us, understand that we are not the ones making the tax laws so keep it to yourself. Also consider this, maybe the dealer you are working with is not being honest? Either way, the tax issue aside, more than likely you just had a great combo there (and CONGRATS!) and caught a case where the dealer knew one or more of the following (or were ripped off ((oops!))):

A) The dealer mark up was significant enough that if he was trading all this in, he was still making profit. I have to ask, did you take all the mowers in at the same time or did you take one in at a time and ask for a credit for that amount? Is the reason he paid less for the last one because he would not have been making ANY money on the new mower?

B) The dealer knew that most of the "profit" he was giving you was only offsetting his profit. Kinda like a car dealer will give X amount for your trade in, but charge you more for the car you are buying. Like someone else said, If you would have walked in there with perhaps $4700 cash, they would have given you the same mower.....



Also remember, you did spend $4700 for the mower since this is the grand total of what you paid for the other mowers. And now the dealer has 3 machines he can make profit from. But if you are happy, then all is good.....
No offense to you or Missouri...I guess I should have said Kentucky as an example instead.. And clearly, the dealer is going to profit nicely on each and every mower I traded in...that's just how these deals work....
Reply With Quote
  #15  
Old 03-14-2009, 09:40 PM
SuperiorPower
Guest
 
Posts: n/a
Default

Quote:
Originally Posted by Steve View Post
Is it possible when you trade in a mower like you did that you can get store credit with a value higher than cash when you trade it in? Does that ever happen and would anyone want that if they ultimately intended to use that credit to buy another mower from that dealership?
Once again, car dealers come to mind.....
Reply With Quote
Reply

Bookmarks

Thread Tools Search this Thread
Search this Thread:

Advanced Search

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is On
Forum Jump

Similar Threads
Thread Thread Starter Forum Replies Last Post
Ferris Mower Vs. Scag Mower briandel265 Truck, Trailer, and Outdoor Power Equipment Discussion, Repairs. 19 02-22-2012 09:39 PM
Do use a Consumer or Commercial Mower? Steve Truck, Trailer, and Outdoor Power Equipment Discussion, Repairs. 15 07-23-2008 11:55 PM
Commercial mower tomcat172002 Truck, Trailer, and Outdoor Power Equipment Discussion, Repairs. 4 06-26-2008 04:53 AM
TORO COMMERCIAL 37" CUT LAWN MOWER - $600 GeeGood General Talk 10 03-24-2008 09:33 AM
Commercial Steve General Business Discussions 0 09-06-2006 04:40 PM

» Recent Threads
  RatingTitle, Username, & Date Last Post Replies Views
My site is on fronts page
tbtigers03
11-14-2014 05:58 PM
Yesterday 10:49 PM
by Just for Cuts
16 447
New website
Chilehead
11-20-2014 04:39 PM
Yesterday 10:38 PM
by Just for Cuts
5 118
Pics for website
tbtigers03
11-21-2014 05:40 PM
Yesterday 10:01 PM
by Just for Cuts
3 79
Peco Bagger
AGPS
11-18-2014 02:20 PM
Yesterday 05:56 PM
by AGPS
9 249
Beginner Mistakes:...
Steve
01-31-2007 12:45 PM
Yesterday 02:42 PM
by stevef1201
22 6,055
These are the days on...
ExtremeLawncareServices
03-22-2014 10:12 AM
11-21-2014 09:48 PM
by ExtremeLawncareServices
174 13,899
Hello from Kentucky
TRV
09-30-2014 06:42 PM
11-21-2014 09:38 PM
by TRV
6 1,242
Contract or no contract?
TRV
11-20-2014 09:18 PM
11-21-2014 09:33 PM
by TRV
3 124
Hi to you NOTHERNERS
stevef1201
11-11-2014 05:56 PM
11-21-2014 08:02 PM
by stevef1201
4 286
Billboards for marketing
ExtremeLawncareServices
11-16-2014 08:39 PM
11-21-2014 07:05 PM
by acrajchel
13 340
Belt dealer problem
googus
11-21-2014 08:45 AM
11-21-2014 06:36 PM
by Steve
2 77
Good help is hard to find
Hanks Lawn Care Services
11-19-2014 03:27 PM
11-21-2014 06:32 PM
by Steve
7 182
How to: Use Thumbtack...
acrajchel
11-17-2014 06:39 PM
11-21-2014 06:07 PM
by acrajchel
15 440
What is going on with...
biglee
11-14-2014 03:04 PM
11-20-2014 02:50 PM
by biglee
40 897
My advice for new guys
avetslawncare
11-15-2014 09:32 AM
11-19-2014 01:47 PM
by biglee
10 447
Lawn Care business...
crieg122
10-23-2014 02:23 PM
11-19-2014 12:39 PM
by acrajchel
28 1,808
raking leaves ?
robert8509
10-22-2014 10:19 PM
11-18-2014 04:24 PM
by acrajchel
14 1,412
Leaf removal
madmedic8575
10-24-2014 05:14 PM
11-17-2014 07:34 PM
by acrajchel
6 1,159
sod job
SGlawncare
10-30-2014 09:21 PM
11-17-2014 07:10 PM
by acrajchel
7 730
Customer wants me to...
Mr. Mow
11-09-2014 07:13 AM
11-17-2014 06:48 PM
by acrajchel
10 489
Hello!
Brian3137
11-11-2014 07:15 PM
11-17-2014 06:46 PM
by acrajchel
14 430
small biz in Phoenix,AZ
anthonyramos1
11-08-2014 09:35 PM
11-17-2014 05:59 PM
by acrajchel
2 292
Client won't pay...
WesleySnips
10-30-2014 03:53 PM
11-17-2014 05:37 PM
by acrajchel
22 1,319
Government contracts
avetslawncare
11-15-2014 08:50 AM
11-17-2014 12:59 PM
by Steve
2 216
Need help on deciding a...
Brian3137
11-10-2014 06:32 PM
11-17-2014 12:44 PM
by Steve
12 481
West cost lawn prices
SGlawncare
10-09-2014 10:51 PM
11-16-2014 07:54 AM
by stevef1201
8 1,560
So how do you guys...
Mr. Mow
10-26-2014 08:55 AM
11-15-2014 08:44 AM
by avetslawncare
14 1,668
Truck, Trailer,...
hawthornelawncare
12-23-2011 01:01 AM
11-13-2014 08:35 AM
by jrs.landscaping
81 31,751
The most dangerous part...
Steve
10-06-2014 03:45 PM
11-12-2014 05:05 PM
by stevef1201
14 1,641
A little hang up in snow...
stevef1201
11-08-2014 07:05 AM
11-12-2014 12:51 PM
by Steve
4 396
Bi-weekly winter...
lxarth
11-04-2014 08:37 PM
11-12-2014 10:06 AM
by WesleySnips
9 594
taking first steps...
sizemorelawncare
11-10-2014 08:24 PM
11-11-2014 01:21 PM
by Steve
1 285
Back Pack Blower
Ian Lovejoy
11-09-2014 08:41 AM
11-11-2014 08:12 AM
by Just for Cuts
4 349
Business Cards
crieg122
10-25-2014 01:03 PM
11-11-2014 07:56 AM
by Just for Cuts
12 1,286
How the unregister?
alive101
11-04-2014 07:39 AM
11-10-2014 01:48 PM
by Steve
4 574
Belt adjustment question
googus
11-05-2014 06:43 AM
11-10-2014 01:38 PM
by Steve
5 481
New parking area
ExtremeLawncareServices
11-07-2014 09:47 PM
11-10-2014 01:25 PM
by Steve
2 315
Podcast
Shark1611
11-07-2014 05:42 PM
11-10-2014 11:41 AM
by Steve
1 274
hi, from Minnesota
rjklohn
11-07-2014 02:21 AM
11-07-2014 01:44 PM
by Steve
1 287
New to snow plowing
SS.Lawncare
11-05-2014 04:00 PM
11-07-2014 01:21 PM
by Steve
6 519
New Member
tonyap
11-05-2014 10:35 PM
11-07-2014 01:15 PM
by Steve
1 336
New to the business
jcurr33
11-05-2014 03:21 PM
11-07-2014 01:11 PM
by Steve
1 389
Lines
Matther777
11-04-2014 02:19 PM
11-07-2014 12:54 PM
by Steve
1 427
hello, new to this site
tonyorwig
10-31-2014 10:49 PM
11-04-2014 02:24 PM
by tonyorwig
3 625
Aloha from Hawaii.
Gary R
11-02-2014 12:44 AM
11-03-2014 03:02 PM
by Steve
1 528
Pavers
crieg122
10-28-2014 03:49 PM
10-31-2014 01:49 PM
by Steve
6 841
Hi Steve From West...
Mr. Mow
10-21-2014 02:59 PM
10-31-2014 12:56 PM
by Steve
5 1,157
Got my first lawn job...
SGL1
06-11-2014 10:19 PM
10-31-2014 10:53 AM
by Max Wagner
30 3,264
Gie-review / What's new...
ExtremeLawncareServices
10-25-2014 10:19 AM
10-31-2014 10:30 AM
by ExtremeLawncareServices
7 1,081
Business Name
sanchez5
10-29-2014 12:55 AM
10-31-2014 06:51 AM
by ringahding1
10 951
» Popular Tags
4wd aerocore apartment bid apartment complex bid billy goat brushcutter bush charge christmas deliquentaccounts ditches employee problems equipment rental estimate exmark ferris first truck foreman georgia gopherhaul gravely holiday how much to charge how to bid husqvarna hydraulic installation introduction jobs kawasaki landscape services lawn lawn care lawn care business podcast lawn care business seo lawn care business show lawn care business website lawn care business website seo lawn care seo lawn care website lawn care website seo managing a lawn care business marketing mowing mr dave mulch mulch price new business ordinance podcast push versus ride redmax reo savannah scag v-ride seo shreaded small engine repair starting a business start up lawn care business steep lawns toro tractor auger trailer trimmer rack truck new used landscape walker won't return wood wright stander rh
Powered by vBadvanced CMPS v3.1.0

All times are GMT -5. The time now is 12:33 AM.


(C) 2011 Riggs Publications - Terms of use & Privacy Policy

All times are GMT -5. The time now is 12:33 AM.

(C) 2011 Riggs Publications - Terms of use & Privacy Policy