Going LLC
#1
Going LLC
Well guys I have been mowing sense I was 12 and I am 20 now, I figured it would be a good investment to make the move. This way I can write off all the gas I dump in my rig, and what not. Most important I can write off a new truck, so I am probably going to start looking for my cummins I have always wanted gatta talk to my accounting person first.
#5
The only thing a write-off does for you is take the written-off amount out of your gross income, so you don't pay taxes on that amount. I point this out only because I've known folks who had a mistaken impression and went into their buying spree thinking that whatever they spent applied to their tax bill like a credit. Boy were they surprised when tax time came around and they couldn't cover the bill. It's still nice to chop those write-offs off of the gross, though, and maybe get knocked down a bracket or three.
Wanna expand? Start by getting signage on your vehicles so people who see you pulling away from nice looking yards know who to call, and keep your vehicles, equipment, and people clean and neat. I've known guys who started up lawn care or pool maintenance businesses, and those who did these two things grew pretty quickly while those who didn't struggled until they either got smart or gave up.
dlyter09's onto something there. No sense lying around all winter hoping the money holds up!
It's said that moving to self employment is trading the illusion of security for the illusion of freedom, and that's a very accurate statement. I didn't have those illusions, myself, but only because this isn't my first business -- I've been self employed for most of my adult life. I have less free time but a lot more security. This is my 16th year in this business and I see no reason to worry that I won't get at least 16 more. It ain't easy but it's well worth doing.
Good luck to you in your endeavor.
Wanna expand? Start by getting signage on your vehicles so people who see you pulling away from nice looking yards know who to call, and keep your vehicles, equipment, and people clean and neat. I've known guys who started up lawn care or pool maintenance businesses, and those who did these two things grew pretty quickly while those who didn't struggled until they either got smart or gave up.
dlyter09's onto something there. No sense lying around all winter hoping the money holds up!
It's said that moving to self employment is trading the illusion of security for the illusion of freedom, and that's a very accurate statement. I didn't have those illusions, myself, but only because this isn't my first business -- I've been self employed for most of my adult life. I have less free time but a lot more security. This is my 16th year in this business and I see no reason to worry that I won't get at least 16 more. It ain't easy but it's well worth doing.
Good luck to you in your endeavor.
#6
The sweet thing about what I'm doing is that my main job is farming I make enough on the weekends to go LLC with mowing. I'm hoping to get enough jobs to put a plow on my truck. I've had a few threads about plows and what not having full intentions of doing so but never got enough jobs. I don't plan on buying more then what I already have but maybe a plow. thanks for the support guys.