Lets talk Business Expenses & Taxes for your lawncare biz

In this video, Lets talk Business Expenses & Taxes for your lawncare biz
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Gwinnett Lawns performs these services and others such as lawn care, crepe myrtle pruning, light landscaping, spring and fall cleanups, leaf removal in Lawrenceville, Dacula, Grayson and surrounding areas. Take a look at my webpage gwinnettlawns..... Follow me on Instagram @Gwinnett_Lawns_LLC.
#businessexpenses
#hustlermowers
#gwinnettlawns
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gwinnettlawns....

[@xBPx08x]

Good/ helpful content as always, much appreciated!

[@upscalelawncaremonroe408]

Someone needed this info! Good stuff!

[@larryneergaard5905]

You lost me on the fuel for the mowers. My understanding is that the entire cost of fuel for the mowers is deductible, which would include the road tax. Am I missing something?

[@GwinnettLawns]

Correct the fuel is all deductible, however the Feds will actually give you a rebate of the road tax portion since you should not have had to pay that initially. So its not dependent on whatever tax rate your in.

[@firstname6208]

My cpa does the taxes, his wife does the book keeping. I stuff all the receipts in an envelope each month when the statement comes from the bank i turn that in to her. I put what it was for on each receipt, i have an appointment book i put where and how much i spent (in case of audit). You can deduct tax prep and bookkeeping also.
Your social security number makes you an entity, llc's, s corps have an EIN number. Keep everything separate as russell says, keep notes. Destroy everything after 7 years. If you save papers longer, the irs can audit them too. Seven years and get rid of it.