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Starting a lawn care business. How to start a lawn mowing business, lawn care business, or landscaping business. If you are starting a lawn care business, ask your questions here.

Taxes and business help


Starting a lawn care business.

How to start a lawn mowing business, lawn care business, or landscaping business. If you are starting a lawn care business, ask your questions here.
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  #1  
Old 06-09-2011, 08:09 PM
calebmoss calebmoss is offline
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Default Taxes and business help

I have just started a lawncare business and taken care of licenes and taxes.

In my county / state every year you have make a list of all your personal property assets from mowers to office supplys. You have to list the item, the cost you paid, and the year purchesed.

I dont fill it right to get taxed for the same cost i paid for something every year when it depreciates in value.

There is a local group TSBDC or Tennessee Small Business Development Centers . They help you get your business started and help you grow. Im thinking about checking it out to see what they offer sence its free.

http://www.tsbdc.org/
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Old 06-09-2011, 11:45 PM
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Caleb. They depreciate the price each year. I'll have to look at an old schedule but I think the first year that depreciation is over 30%. So 20k will be depreciated to about 13k next year and then keep going down from there. Also keep in mind all city, county and state taxes are deductible I believe dollar for dollar on your federal tax return as well of course as the purchase price so in the end it is a very small amount that these taxes actually cost you.

My concern now about taxes in TN is the change in gas tax I'm hearing about on the news that will be the one to watch out for.
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Old 06-10-2011, 05:27 AM
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In my county / state every year you have make a list of all your personal property assets from mowers to office supplys. You have to list the item, the cost you paid, and the year purchesed.
Do non-business owners get charged that tax too for their personal lawn mowers?
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Old 06-11-2011, 05:27 PM
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Steve, no it's not taxed on a personal level. But once you get a business license they will send you a "personal property" schedule so that you can list everything that you have bought for company use. Basically if you've bought it a you're able to write that off on your federal tax (whether it's a fax machine, mower, or hand held shears) then you will be expected to list it and pay the city and county taxes on it.

Caleb, have you seen the news reports about Tennessee changing their way of collecting fuel tax? I believe right now that we pay $.70 per gallon for state taxes, this is money used to do road repairs.

What they are talking about doing since electric and more fuel efficient cars are in the future is start charging by the mile. Mileage X the weight of your vehicle X whatever the rate is. At the pump they will have some mechanism for checking mileage since you last filled up in TN and the price will adjust at that moment.

What I would like to know is how will they factor in trailers being towed and the fuel put into containers and and equipment.
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Old 06-14-2011, 10:47 AM
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What they are talking about doing since electric and more fuel efficient cars are in the future is start charging by the mile. Mileage X the weight of your vehicle X whatever the rate is. At the pump they will have some mechanism for checking mileage since you last filled up in TN and the price will adjust at that moment.

What I would like to know is how will they factor in trailers being towed and the fuel put into containers and and equipment.
I think that is messed up.

We should be promoting better mpg in vehicles and getting away from our addiction to middle east oil and now we have our own government working against that goal.
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