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: 9
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 online now
Administrator
 
Join Date: May 2003
Posts: 36,519
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: 6
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: 6
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
Leaf removal
madmedic8575
Yesterday 04:14 PM
Today 06:47 AM
by Mr. Mow
3 109
My Newest Toy (B.P....
Dan Tanner
10-23-2014 05:50 PM
Today 05:06 AM
by Dan Tanner
2 156
hey everyone
robert8509
10-22-2014 08:16 PM
Yesterday 11:07 PM
by robert8509
7 237
raking leaves ?
robert8509
10-22-2014 09:19 PM
Yesterday 11:05 PM
by robert8509
9 294
new to the forum
madmedic8575
Yesterday 02:52 PM
Yesterday 02:52 PM
by madmedic8575
0 68
Lawn Care business...
crieg122
10-23-2014 01:23 PM
Yesterday 01:11 PM
by Steve
4 205
Pressure Washing Like a...
TNTurf
08-01-2014 11:47 PM
Yesterday 01:00 PM
by Steve
11 908
12 Years in Business!
Chilehead
10-23-2014 08:07 AM
10-23-2014 11:08 PM
by Chilehead
2 161
Dealing With Gas Can...
Mr. Mow
10-21-2014 01:41 PM
10-23-2014 11:06 PM
by Chilehead
9 363
Cheapskate Landlord...
Mr. Mow
10-20-2014 06:33 AM
10-23-2014 05:55 PM
by biglee
13 474
Hi from SoCal
Jmoney
10-23-2014 11:29 AM
10-23-2014 12:51 PM
by Steve
1 130
Workmans compensation...
CDLAWNCARE
10-15-2014 08:05 AM
10-23-2014 12:33 PM
by Steve
5 585
Pda
stevef1201
10-18-2014 02:05 PM
10-23-2014 06:12 AM
by ringahding1
4 412
Leaf Box & Loader Set...
ringahding1
10-21-2014 06:20 AM
10-23-2014 05:13 AM
by ringahding1
5 303
Hello, from TEXAS
sanchez5
10-17-2014 09:56 PM
10-22-2014 01:27 PM
by Steve
6 480
Organic Lawn Care...
NHray
10-17-2014 06:05 PM
10-22-2014 01:23 PM
by Steve
3 456
Hi Steve From West...
Mr. Mow
10-21-2014 01:59 PM
10-22-2014 01:19 PM
by Steve
1 229
Help a brother...
tbtigers03
09-28-2014 11:41 AM
10-22-2014 08:51 AM
by ringahding1
12 1,592
first year update
cmdlawncare
08-12-2014 05:41 PM
10-22-2014 07:47 AM
by ringahding1
4 1,426
What parts do you carry...
Just for Cuts
10-17-2014 09:08 AM
10-21-2014 01:36 PM
by Mr. Mow
16 725
Jungle to Beautiful
stevef1201
10-17-2014 09:54 AM
10-21-2014 01:26 PM
by stevef1201
11 581
These are the days on...
ExtremeLawncareServices
03-22-2014 09:12 AM
10-21-2014 01:19 PM
by ExtremeLawncareServices
158 11,512
Sunny Beach Tennis...
SGL1
10-19-2014 11:24 PM
10-21-2014 01:04 PM
by SGL1
4 330
Have you ever had to...
SouthernRootsLawnCare
07-26-2014 02:41 PM
10-20-2014 08:34 PM
by biglee
10 1,904
Look out Bob Villa -...
Mr Dave
09-30-2014 10:06 AM
10-20-2014 05:42 PM
by SGL1
7 1,390
how to fi d commercial...
mchampion319
10-19-2014 09:50 PM
10-20-2014 04:41 PM
by Steve
1 294
Hello From Tennessee
mrmann901
10-17-2014 10:02 PM
10-20-2014 04:24 PM
by Steve
1 367
questions on order to...
jack2048
10-13-2014 11:15 AM
10-20-2014 03:27 PM
by Mr. Mow
15 819
This sucks...
Matther777
09-18-2014 04:56 PM
10-20-2014 02:14 PM
by Steve
14 2,282
Cement mixer
KevinsLawns
10-15-2014 08:03 PM
10-20-2014 02:11 PM
by Steve
7 559
Hello ! New guy Rob here
RWorthley1
10-17-2014 04:05 PM
10-20-2014 02:09 PM
by Steve
1 399
Snow Blowing
gwilson98
10-12-2014 02:21 PM
10-17-2014 02:51 PM
by Steve
6 737
Spreading Weeds?
WesleySnips
07-27-2014 09:46 PM
10-17-2014 07:49 AM
by SGL1
6 1,043
Grasswhoopins.com Anyone...
GRASS WHOOPINS
06-21-2011 11:38 PM
10-16-2014 01:30 PM
by ExtremeLawncareServices
42 9,413
I Want to buy old...
ExtremeLawncareServices
10-10-2014 10:04 PM
10-15-2014 09:12 PM
by ExtremeLawncareServices
6 762
Say Hello !!!
Steve
03-19-2007 11:18 AM
10-15-2014 06:43 PM
by NHray
1,190 340,407
Do you find weed eating...
chuck2s
10-15-2014 02:10 PM
10-15-2014 02:10 PM
by chuck2s
0 485
Incorporating &...
WesleySnips
10-01-2014 09:39 PM
10-15-2014 01:37 PM
by kslawn
20 1,587
Falling into business
stellarmowing
09-28-2014 04:35 PM
10-15-2014 05:57 AM
by ringahding1
8 1,594
Apartment Complex and...
lxarth
06-22-2011 01:10 PM
10-14-2014 06:25 PM
by jrs.landscaping
42 9,694
I LOVE hedge trimming
stevef1201
10-13-2014 09:05 AM
10-14-2014 01:06 PM
by Steve
5 618
Help with seeder...
ExtremeLawncareServices
10-09-2014 07:39 AM
10-13-2014 08:09 PM
by ExtremeLawncareServices
5 779
The Market watch
WesleySnips
10-12-2014 08:47 PM
10-13-2014 05:40 PM
by SGL1
3 622
Help pricing a large...
Bradcook21
10-07-2014 06:49 AM
10-13-2014 02:00 PM
by Steve
7 968
leaf removal
Double J LLC
10-03-2014 04:24 PM
10-13-2014 06:46 AM
by Billy Goat
19 1,623
Acerage Rake
acrajchel
04-23-2014 07:23 PM
10-12-2014 10:53 PM
by SGL1
2 933
John Deere z235 Deck
WesleySnips
09-29-2014 06:02 PM
10-12-2014 06:20 PM
by kslawn
25 1,752
Credit card contract
SGL1
10-06-2014 05:31 PM
10-12-2014 03:40 PM
by SGL1
18 1,161
Truck craft dump bed...
ExtremeLawncareServices
10-04-2014 08:41 PM
10-10-2014 11:35 AM
by Steve
7 1,065
First Time River Rock...
berryjam
10-09-2014 06:09 PM
10-10-2014 11:08 AM
by Steve
2 705
» Popular Tags
4wd apartment complex article marketing bark bid blades bob villa care charge collections collections subcontractor decorating ditches edging employee problems equipment rental estimate exmark ferris four wheel drive fundraiser gopherhaul gravely growing a lawn care business hardscapes how much to charge husqvarna installation introduction kawasaki landscape services lawn lawn care lawn care business lawn care business seo lawn care business show lawn care business website lawn care business website seo lawn care website marketing mr dave mulch new mower past due podcast promotion pto redmax reo running a business scag search engine optimization seo shell small engine repair snow sprayer starting a business steep lawns steve stihl theft of services top dresser toro toro grand stand trailer trimmer rack turfgrass consulting walker wood
Powered by vBadvanced CMPS v3.1.0

All times are GMT -5. The time now is 08:16 AM.


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

All times are GMT -5. The time now is 08:16 AM.

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