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 > Business > General Business Discussions

General Business Discussions A place to talk about general business discussions.

Income Taxes


General Business Discussions

A place to talk about general business discussions.
Reply
 
Thread Tools Search this Thread
  #1  
Old 11-07-2011, 08:29 PM
Clays Landscape Clays Landscape is offline
Senior Member
 
Join Date: Nov 2010
Location: Blackstone, Va
Posts: 114
Rep Power: 4
Clays Landscape is on a distinguished road
Default Income Taxes

I am currently in my second full yr. Last year when I filed my taxes, I obviously did not do something correct. I ended up paying out A LOT due to self-employment taxes they say.

My question is how or can I reduce the amount I am paying in taxes?

I have been buying equipment in hopes this would offset some.

Any input would be greatly appreciated.
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


  #2  
Old 11-07-2011, 09:12 PM
Hedgemaster Hedgemaster is offline
new member
 
Join Date: Jul 2010
Location: Pittsburgh, PA
Posts: 2,772
Rep Power: 0
Hedgemaster is on a distinguished road
Default

Lawn care business tipsLawn Care Business Book
I'm not well versed in this stuff yet, but I think you'll be disappointed when you find out you don't get to write off the amount you paid for equipment.
Reply With Quote
  #3  
Old 11-07-2011, 09:28 PM
Clays Landscape Clays Landscape is offline
Senior Member
 
Join Date: Nov 2010
Location: Blackstone, Va
Posts: 114
Rep Power: 4
Clays Landscape is on a distinguished road
Default

Quote:
Originally Posted by Hedgemaster View Post
I'm not well versed in this stuff yet, but I think you'll be disappointed when you find out you don't get to write off the amount you paid for equipment.
Yeah, I have set up a depreciation schedule.
Reply With Quote
  #4  
Old 11-08-2011, 12:53 PM
Steve's Avatar
Steve Steve is offline
Administrator
 
Join Date: May 2003
Posts: 36,422
Rep Power: 10
Steve has disabled reputation
Default

Quote:
I am currently in my second full yr. Last year when I filed my taxes, I obviously did not do something correct. I ended up paying out A LOT due to self-employment taxes they say
Can you give us a little background on this situation? Who was telling you you did something wrong and you paid a lot more than you should have?

Is it that you didn't budget for the fact you needed to pay self employment tax? I think that is an issue a lot of newer business owners get shocked by or was it something else that factored in?
__________________
- 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
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
Poll - net income Dan5082 General Business Discussions 12 09-16-2014 04:44 PM
Income/Expenses workdog Starting a lawn care business. 6 08-03-2010 01:39 AM
Taxes and Income adamsmowing88 Starting a lawn care business. 8 03-05-2010 11:41 AM
Income potential jasonw Starting a lawn care business. 13 06-11-2009 02:33 PM

» Recent Threads
  RatingTitle, Username, & Date Last Post Replies Views
Look out Bob Villa -...
Mr Dave
Yesterday 10:06 AM
Today 06:31 AM
by Mr Dave
3 129
John Deere z235 Deck
WesleySnips
09-29-2014 06:02 PM
Yesterday 08:54 PM
by ExtremeLawncareServices
3 185
Real Estate??
tbtigers03
Yesterday 06:43 PM
Yesterday 08:17 PM
by Sprinkler Buddy
3 105
Question?what should I...
dalvan0
09-24-2014 11:10 PM
Yesterday 08:01 PM
by ExtremeLawncareServices
16 761
Kohler command carb...
ExtremeLawncareServices
09-21-2014 03:09 PM
Yesterday 07:37 PM
by ExtremeLawncareServices
25 1,114
Help a brother...
tbtigers03
09-28-2014 11:41 AM
Yesterday 06:13 PM
by tbtigers03
6 340
Hello from Kentucky
TRV
Yesterday 05:42 PM
Yesterday 05:54 PM
by Sprinkler Buddy
1 80
Sprinkler head guards...
Sprinkler Buddy
09-27-2014 04:55 AM
Yesterday 05:51 PM
by Sprinkler Buddy
4 383
Give Me Your Problems
ellakit
Yesterday 04:10 PM
Yesterday 04:10 PM
by ellakit
0 17
Say Hello !!!
Steve
03-19-2007 11:18 AM
Yesterday 03:53 PM
by ellakit
1,188 336,233
Whe does Mowing season...
jack2048
Yesterday 07:05 AM
Yesterday 02:38 PM
by Steve
3 156
Falling into business
stellarmowing
09-28-2014 04:35 PM
Yesterday 02:17 PM
by Steve
4 311
hey
sizemorelawncare
09-28-2014 08:12 PM
09-29-2014 03:10 PM
by Steve
2 244
Update on LawnsAway and...
Ian Lovejoy
09-28-2014 10:24 AM
09-29-2014 03:09 PM
by Steve
2 300
Need to figure out how...
tjslawnde
09-28-2014 10:31 AM
09-29-2014 03:05 PM
by Steve
4 314
Aerocore Deck?
wdrdoctor
09-26-2014 06:21 PM
09-29-2014 02:36 PM
by Steve
3 438
Hello from CNY
arazucontracting
09-22-2014 06:07 PM
09-29-2014 02:33 PM
by Steve
3 692
How to price lawn mowing.
jack2048
09-24-2014 04:18 PM
09-29-2014 02:27 PM
by Steve
4 541
Pricing ????
6295danny
01-14-2013 07:54 PM
09-29-2014 02:22 PM
by Steve
35 6,565
30 Inch Push Mowers Pros...
Billy Goat
06-27-2013 08:07 PM
09-27-2014 04:11 PM
by SGL1
30 7,072
Replacing a Shindi T-27
Dan Tanner
09-13-2014 12:59 PM
09-26-2014 04:16 PM
by stevef1201
5 1,082
Looking for feed back on...
ExtremeLawncareServices
09-17-2014 08:38 AM
09-25-2014 09:18 AM
by ExtremeLawncareServices
10 1,108
These are the days on...
ExtremeLawncareServices
03-22-2014 09:12 AM
09-25-2014 08:01 AM
by ExtremeLawncareServices
124 9,299
Trying something new,...
ExtremeLawncareServices
09-21-2014 09:07 PM
09-23-2014 11:13 AM
by Steve
4 785
This sucks...
Matther777
09-18-2014 04:56 PM
09-22-2014 08:02 PM
by ExtremeLawncareServices
11 1,167
Not sure, but anyone do...
SnowRemoval2k14
09-22-2014 12:10 AM
09-22-2014 04:49 PM
by Steve
1 729
Tribulations of working...
stevef1201
09-13-2014 08:37 AM
09-22-2014 04:45 PM
by Steve
9 1,062
Mulching beds
Bradcook21
09-21-2014 07:43 AM
09-22-2014 04:43 PM
by Steve
3 802
Scag turf tiger hydrolic...
ExtremeLawncareServices
09-04-2014 10:55 PM
09-22-2014 04:35 PM
by Steve
12 1,432
2014 Gie-expo
ExtremeLawncareServices
08-19-2014 11:22 PM
09-21-2014 09:23 PM
by ExtremeLawncareServices
3 1,450
Mowing 7 acres
avetslawncare
08-31-2014 04:24 PM
09-19-2014 03:29 PM
by acrajchel
6 1,672
snowplowing
jshak40
09-01-2014 07:20 AM
09-19-2014 11:49 AM
by Steve
23 2,101
Lowballers scrubs &...
Darksteel
01-13-2014 07:35 AM
09-18-2014 06:32 PM
by Northwoods Outdoors
58 7,505
Hello from upstate NY!
A&MLawn&Snow
09-18-2014 11:19 AM
09-18-2014 04:10 PM
by Sprinkler Buddy
2 903
Price to apply fertilizer
SS.Lawncare
09-15-2014 11:10 AM
09-18-2014 01:16 PM
by Steve
9 1,086
Trailer tires
J.A.S.LawnService
09-01-2014 10:17 AM
09-17-2014 09:57 PM
by curts lawn care
4 1,516
new to the forum
SGlawncare
09-16-2014 11:20 PM
09-17-2014 08:29 PM
by curts lawn care
3 916
Help With Snow Blowing...
Robertf31
09-13-2014 10:55 PM
09-17-2014 12:34 PM
by Steve
11 1,276
Non-Stop Summer?
SouthallMowing
09-14-2014 10:51 PM
09-17-2014 10:48 AM
by stevef1201
6 1,032
Poll - net income
Dan5082
11-15-2010 08:08 PM
09-16-2014 04:44 PM
by jrs.landscaping
12 3,783
Getting lowballed!
PineHillLawn
06-27-2012 07:23 AM
09-16-2014 01:25 PM
by jrs.landscaping
24 5,524
Compare this summer to...
Steve
09-03-2014 12:52 PM
09-16-2014 11:20 AM
by Hanks Lawn Care Services
15 1,703
thinking about throwing...
veteranslawncaresystems
09-09-2014 10:31 PM
09-15-2014 03:41 PM
by Steve
12 1,423
Hello
Robertf31
09-12-2014 10:34 PM
09-15-2014 03:17 PM
by Steve
2 927
Newbie......Again
Jibber
09-13-2014 12:17 PM
09-15-2014 02:54 PM
by Sprinkler Buddy
2 1,054
need help with starter...
GoGreenerKS
09-12-2014 04:23 PM
09-15-2014 02:25 PM
by Steve
3 972
Brake job!
kslawn
08-30-2014 07:49 AM
09-15-2014 02:16 PM
by Steve
12 1,775
Hello
jawnebgoode
08-28-2014 08:37 PM
09-15-2014 02:15 PM
by Steve
3 1,505
Employee uniforms
Gerardo_Landscape
01-21-2014 11:11 PM
09-15-2014 02:12 PM
by Steve
5 1,570
Greetings from the north
Northwoods Outdoors
09-13-2014 08:55 AM
09-15-2014 02:07 PM
by Steve
1 919
» Popular Tags
4wd bob villa charge christmas christmas lighting collections commercial demonstration ditches employee problems estimate exmark ferris first truck fundraiser georgia gopherhaul gravely hardscapes holiday how much to charge how to how to bid hydraulic introduction kawasaki labor cost landscape services lawn lawn care lawn care busines plan lawn care business book lawn care business seo lawn care business show lawn care business website lawn care business website seo lawn care website lawn care website seo leaf removal lesco lighting marketing mowing mulch estimate new buisness new mower past due patio install podcast property management company reo rotating running a business scag scag v-ride seo sprayer starting a business start up lawn care business steep lawns steve stihl tips top dresser toro trailer mate pro truck new used landscape walker won't return wright stander rh
Powered by vBadvanced CMPS v3.1.0

All times are GMT -5. The time now is 06:52 AM.


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

All times are GMT -5. The time now is 06:52 AM.

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