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: 37,502
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
Big mowing job
Bradcook21
Today 03:57 PM
Today 04:32 PM
by rootytalbot
1 16
scag SWZT review!
mattthelawnguy
07-23-2015 02:28 PM
Today 02:32 PM
by mattthelawnguy
8 329
Say Hello !!!
Steve
03-19-2007 11:18 AM
Today 01:53 PM
by malaboy
1,226 401,032
Hello Everybody
budspop
Today 11:42 AM
Today 11:42 AM
by budspop
0 26
Hello!
brandycarlton
Yesterday 12:31 PM
Yesterday 03:54 PM
by Steve
1 117
Assessing the Market
NJDB60
07-27-2015 03:25 PM
07-28-2015 09:24 PM
by Steve
2 223
Whats wrong with this...
GreenWorx
07-28-2015 07:56 PM
07-28-2015 09:09 PM
by Steve
2 202
Funny craigslist post
GreenWorx
07-28-2015 07:17 PM
07-28-2015 09:02 PM
by Steve
2 209
Watch out for this -...
rootytalbot
07-22-2015 02:13 PM
07-28-2015 09:00 PM
by Steve
7 361
NewVenture
NJDB60
07-27-2015 03:38 PM
07-28-2015 08:58 PM
by Steve
1 207
Pricing issue
Mr. Mow
07-07-2015 06:15 AM
07-27-2015 06:40 PM
by GreenWorx
17 733
how to make customers...
Bradcook21
05-27-2015 05:04 PM
07-27-2015 06:08 PM
by GreenWorx
15 2,913
Need your help, Gopher...
Chilehead
07-23-2015 07:02 PM
07-27-2015 11:28 AM
by Steve
11 360
Should I buy this Exmark...
googus
07-03-2015 09:22 AM
07-27-2015 11:27 AM
by googus
8 551
These are the days on...
ExtremeLawncareServices
01-11-2015 10:41 AM
07-27-2015 11:22 AM
by Steve
94 10,405
Dogs
Mr. Mow
06-29-2015 02:37 PM
07-25-2015 07:50 AM
by Chilehead
12 2,392
Just about mid year, how...
GreenWorx
06-24-2015 07:05 PM
07-22-2015 07:31 PM
by Chilehead
14 2,451
Learning as I grow -...
WarriorLandscapingCAN
07-18-2015 07:46 AM
07-21-2015 10:53 AM
by Steve
3 297
Large dirt mound removal
purdue1973
07-09-2015 07:45 PM
07-20-2015 12:55 PM
by Steve
6 417
Hey everyone
Fantasy landscaping
07-09-2015 06:53 AM
07-09-2015 11:47 AM
by Steve
1 318
Quickbooks Online
jscarolina
07-08-2015 07:54 AM
07-08-2015 12:55 PM
by Nate10928
1 338
I dont know what to do...
Bradcook21
06-21-2015 08:49 AM
07-07-2015 09:48 PM
by SGL1
16 2,716
Start LIKING FACEBOOK...
rlclawncare123
02-26-2015 12:06 AM
07-07-2015 02:54 PM
by GreenWorx
13 3,665
Is it too late to do...
markty
06-16-2015 05:28 PM
07-07-2015 01:00 PM
by problem solver
9 2,472
Hi everyone
Mattw
07-06-2015 05:59 PM
07-07-2015 10:18 AM
by Steve
1 345
4th of July parade...
Steve
07-06-2015 10:35 AM
07-06-2015 10:35 AM
by Steve
0 292
Unemployment rates drop,...
Steve
07-02-2015 12:40 PM
07-06-2015 10:30 AM
by Steve
4 460
another newish job for me
holymoly
06-07-2015 08:34 AM
07-03-2015 02:06 PM
by American L&T
9 2,467
Before & After tree...
COREtreeservice
07-01-2015 09:20 PM
07-01-2015 09:20 PM
by COREtreeservice
0 390
Ready to learn and get...
Koley Lawn & Landscape
06-28-2015 05:16 AM
07-01-2015 11:26 AM
by Steve
8 2,233
Three Stripe Land Care...
hammr04
06-30-2015 07:19 PM
07-01-2015 11:24 AM
by Steve
1 363
» Popular Tags
accounting ad landscaping advertising aerocore apartment bid apartment complex bark billy goat brushcutter bob villa bush collections contract help curb appeal services deliquentaccounts demonstration door hangers edging employee problems equipment dealer equipment rental facebook financials foreman free lawn care google growing a lawn care business hardscapes husqvarna invoicing jobs landscape landscape services landscaping training lawn aeration lawn care lawn mowing marketing marketing secrets mr dave mulch new business ordinance past due patio install per hour charge per hour service plowing pricing profit on employee quickbooks quickbooks online roundup scag secrets to landscaping sell the vision seo shell shreaded small engine repair solo backpack sprayer sq ft swzt tree tree pics up sell employee walk behind web design website winterization www.greenturion.co.za
Powered by vBadvanced CMPS v3.1.0

All times are GMT -5. The time now is 05:28 PM.


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

All times are GMT -5. The time now is 05:28 PM.

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