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Lawn Care Employees Discussions Discussions on lawn care employee related issues.

DBA Question


Lawn Care Employees Discussions

Discussions on lawn care employee related issues.
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  #1  
Old 01-10-2011, 03:43 PM
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Default DBA Question

If a get a DBA what does that mean for tax situations?
Can i claim equipment that i bought or gas or anything?
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Old 01-10-2011, 06:02 PM
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I don't think it has any impact on taxes/deductions. I could be wrong though.
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Old 01-10-2011, 06:02 PM
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You can claim anything you buy for the business. That is the cost for doing business. Include equipment, gasoline, mulch, anything that you need to buy to do a job is business expense. Save all receipts.
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Old 01-11-2011, 02:31 AM
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If you are operating a business even with your own name such as Joe Smith. You pay taxes on the money you make and deduct what the irs allows you to deduct.

The dba just allows you to use a fictitious name such as Super lawn care.

You and the business are still one entity vs if you create a corporation. Then your business is a separate entity with it's own tax.

Does this help?
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Old 01-13-2011, 09:25 PM
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you will have to do a schedule C on your tax return, if i recall correctly. I turned that over to a CPA some time ago. It was quite simple when I did it myself. Just keep good records.
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Old 01-14-2011, 03:04 AM
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Quote:
you will have to do a schedule C on your tax return, if i recall correctly.
John, was that for the dba? Can you explain to everyone what the schedule c is?
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Old 02-21-2011, 07:40 PM
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Dillon,
You are in the same state as I am. I meet with a CPA and he said my tax bases would be about 29% of my net income. Keep milage on your truck. My CPA said it would be about 150.00 for him to do my taxes. I think it is probably worth it.
If you want to find someone who will take time to walk you through it, go to Daveramsey.com and clic on the ELP to find who he recommends in your area.
I started mowing in Memphis years ago. If I can help in anyway send me a PM. I still have some connections there.
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Old 02-21-2011, 08:32 PM
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Quote:
Originally Posted by Golftrick17 View Post
Dillon,
You are in the same state as I am. I meet with a CPA and he said my tax bases would be about 29% of my net income. Keep milage on your truck. My CPA said it would be about 150.00 for him to do my taxes. I think it is probably worth it.
If you want to find someone who will take time to walk you through it, go to Daveramsey.com and clic on the ELP to find who he recommends in your area.
I started mowing in Memphis years ago. If I can help in anyway send me a PM. I still have some connections there.
That is exactly how I found my CPA. Can't go wrong with Dave Ramsey's ELP's.

Matt
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