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, 03:00 PM
picframer's Avatar
picframer picframer is offline
Andy
 
Join Date: Jan 2009
Location: Halifax, Nova Scotia
Posts: 2,885
Rep Power: 10
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, 03:15 PM
Steve's Avatar
Steve Steve is offline
Administrator
 
Join Date: May 2003
Posts: 37,361
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, 05:41 PM
outerelements's Avatar
outerelements outerelements is offline
Member
 
Join Date: Dec 2008
Posts: 37
Rep Power: 7
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, 05:43 PM
outerelements's Avatar
outerelements outerelements is offline
Member
 
Join Date: Dec 2008
Posts: 37
Rep Power: 7
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, 08:40 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 08:39 PM
Do use a Consumer or Commercial Mower? Steve Truck, Trailer, and Outdoor Power Equipment Discussion, Repairs. 15 07-23-2008 10:55 PM
Commercial mower tomcat172002 Truck, Trailer, and Outdoor Power Equipment Discussion, Repairs. 4 06-26-2008 03:53 AM
TORO COMMERCIAL 37" CUT LAWN MOWER - $600 GeeGood General Talk 10 03-24-2008 08:33 AM
Commercial Steve General Business Discussions 0 09-06-2006 03:40 PM

» Recent Threads
  RatingTitle, Username, & Date Last Post Replies Views
Share your stolen...
SGL1
05-27-2015 09:05 PM
Today 05:51 AM
by Just for Cuts
8 110
Hello All
HappyGrass
05-27-2015 10:10 PM
Today 05:05 AM
by Sprinkler Buddy
3 72
big job for me....need...
holymoly
Yesterday 06:15 AM
Today 03:42 AM
by holymoly
4 96
What a JERK!
Chilehead
05-06-2015 08:13 AM
Yesterday 03:13 PM
by HappyGrass
16 806
5 things you would...
Steve
09-11-2008 08:53 AM
Yesterday 03:02 PM
by HappyGrass
5 2,154
how to make customers...
Bradcook21
05-27-2015 05:04 PM
Yesterday 12:31 PM
by Steve
5 120
Equipment dealers
mattthelawnguy
05-21-2015 04:33 PM
Yesterday 12:20 PM
by Steve
6 208
Things your lawn care...
Steve
05-27-2015 11:48 AM
05-27-2015 11:48 AM
by Steve
0 64
I can't believe people...
ExtremeLawncareServices
05-25-2015 10:29 AM
05-27-2015 11:45 AM
by jrs.landscaping
9 261
Show us your stripes
Just for Cuts
05-21-2015 03:07 PM
05-27-2015 11:35 AM
by Steve
5 194
Pissed off customers
stonegatedesigns
05-26-2015 05:29 PM
05-27-2015 11:26 AM
by Steve
3 132
Great start to the season
jcurr33
05-25-2015 08:49 PM
05-26-2015 01:50 PM
by Steve
2 98
uploading video on here?
holymoly
05-24-2015 08:13 AM
05-26-2015 01:37 PM
by Steve
2 101
new here ! need help
pgrace
05-23-2015 11:29 PM
05-26-2015 01:35 PM
by Steve
1 117
What's your next...
Steve
05-15-2015 11:54 AM
05-26-2015 01:25 PM
by Steve
14 411
problems with a customer
LawnCareMan280
05-19-2015 06:28 PM
05-26-2015 01:22 PM
by Steve
5 231
More Rain or Less?
Steve
05-20-2015 12:06 PM
05-24-2015 04:37 PM
by SGL1
12 301
Irrigation
pboy8634
02-21-2010 12:46 PM
05-22-2015 10:05 PM
by biglee
25 8,486
Beginner Mistakes:...
Steve
01-31-2007 11:45 AM
05-22-2015 09:58 PM
by biglee
37 9,218
Peace garden ideas
SGL1
05-13-2015 03:15 PM
05-21-2015 07:51 PM
by avetslawncare
16 546
These are the days on...
ExtremeLawncareServices
01-11-2015 10:41 AM
05-20-2015 09:18 PM
by ExtremeLawncareServices
84 6,891
Total yard rehab
SGL1
04-23-2015 03:59 PM
05-19-2015 08:22 PM
by SGL1
15 842
Say Hello !!!
Steve
03-19-2007 11:18 AM
05-19-2015 04:12 PM
by NinaMarie86
1,223 390,338
New Lawn Service
carmelitaslawnservice
05-19-2015 10:02 AM
05-19-2015 02:51 PM
by Steve
1 144
Landscaper Jailed After...
SGL1
05-18-2015 08:15 AM
05-19-2015 02:37 PM
by Steve
5 246
Pictures of commercial...
avetslawncare
04-01-2015 09:47 PM
05-19-2015 02:29 PM
by Steve
38 2,053
feeling like im being...
Bradcook21
05-17-2015 07:33 AM
05-19-2015 02:11 PM
by Steve
6 254
good news yesterday
Bradcook21
05-17-2015 07:08 AM
05-19-2015 06:16 AM
by Bradcook21
3 182
ignition coil
jasonw
05-12-2015 05:31 PM
05-18-2015 12:07 PM
by Steve
3 300
Anyone need help? I have...
biglee
05-06-2015 12:22 PM
05-18-2015 12:06 PM
by Steve
13 734
Big (to me) mulch job
tl757
04-23-2015 05:32 PM
05-15-2015 08:46 PM
by biglee
22 1,542
big dog mowers?
Bradcook21
05-13-2015 04:03 PM
05-14-2015 10:55 AM
by Steve
4 327
Small HOA Bid
lxarth
05-06-2015 10:37 PM
05-13-2015 11:55 AM
by Steve
9 551
New company in Michigan
SEM
04-24-2015 09:27 PM
05-13-2015 11:51 AM
by Steve
11 676
Fired for refusing to...
Mr. Mow
05-09-2015 06:15 AM
05-12-2015 01:36 PM
by Steve
6 544
I have ZERO confidence...
Just for Cuts
05-01-2015 04:24 PM
05-12-2015 03:53 AM
by jrs.landscaping
31 1,151
landscape insurance
clarkslawn
03-30-2015 10:14 PM
05-11-2015 01:15 PM
by Steve
6 1,063
String trim BEFORE mow...
Mr. Mow
04-12-2015 08:13 AM
05-10-2015 07:50 PM
by ExtremeLawncareServices
9 1,099
Bought my first STIHL...
Mr. Mow
05-09-2015 06:29 AM
05-10-2015 08:36 AM
by Mr. Mow
9 451
advice wanted please and...
CHenricks
05-07-2015 08:40 PM
05-08-2015 04:20 PM
by CHenricks
7 472
Hello
SallyBorowicz
05-06-2015 11:14 AM
05-08-2015 02:21 PM
by Steve
3 375
Mower Advice
tl757
05-06-2015 02:31 PM
05-08-2015 01:45 PM
by Steve
6 509
Home today...Still...
biglee
05-06-2015 11:59 AM
05-07-2015 12:06 PM
by biglee
2 377
I'm Back With The Best...
aduttonater
02-21-2015 12:41 AM
05-07-2015 11:17 AM
by Steve
79 4,053
color fliers?
holymoly
04-18-2015 02:32 PM
05-07-2015 10:57 AM
by Steve
16 1,074
Looking good
mrsmichigan
05-06-2015 09:47 AM
05-07-2015 10:53 AM
by Steve
1 316
What are your biggest...
Steve
05-05-2015 01:24 PM
05-07-2015 10:52 AM
by Steve
2 372
is craiglist good to...
JBENI
04-16-2015 11:11 AM
05-06-2015 07:15 PM
by TheYardGuy
12 1,157
Go daddy web site and...
jcurr33
05-04-2015 06:00 PM
05-05-2015 11:57 AM
by Steve
2 398
How busy are you now?
Steve
05-04-2015 01:10 PM
05-05-2015 11:47 AM
by Steve
4 435
» Popular Tags
aerocore apartment bid apartment lawn care estimate applying auger billy goat brushcutter blades blowout bush commercial curb appeal services deliquentaccounts demonstration ditches door hangers employee problems equipment rental estimate facebook foreman free advertising google growing a lawn care business how to husqvarna jobs john deere quik trac landscape landscape services landscaping training lawn lawn care lawn care busines plan managing a lawn care business marketing more customers business mr dave mulch new business patio install per hour service pricing pto scag secrets to landscaping sell the vision shell shreaded small engine repair snow plowing sq ft square foot starting a lawn care business steep lawns swzt theft toro toro grand stand tractor auger trailer trailer mate pro tree trimmer rack up sell employee web design website website design winterization wood wright stander rh
Powered by vBadvanced CMPS v3.1.0

All times are GMT -5. The time now is 06:56 AM.


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

All times are GMT -5. The time now is 06:56 AM.

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