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Discussion Starter #1
I have exceeded my yearly expected income for the year and it not over yet, and to top it off should get back +5 grand from fed taxes. :):):)
 

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They say it's bad to get more than a few thousand back in any year because it means you let the Feds. borrow your money interest free.

:thumbup: However, we should get about $5,000. back this year and it makes me smile. I know it's our money, but when it hits our bank account, it feels like a well-deserved bonus!!!
 

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Discussion Starter #3
Put it this way by ends year I will have paid at least 10 + G to them, I like the little nest egg at the end of the year, they hit me big time on taxes all year long, claiming zero.
 

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waterheaterzone.com
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Excellent work Ron! I am sure you are psyched.

My business has been growing and growing, the first 1.5 years I made barely anything. Now, I am finally making money in the business, and my wife has been able to quit her well-paying job ($50,000.yr.+benefits) so I can support her and she can raise our baby.
It makes me feel like a real winner.:thumbup:

I give thanks every day.
 

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Discussion Starter #5
Too bad it is going to pay down the credit cards, will be debt free except for personal truck payment. Now we can save for much needed home repairs. My goal was to gross 1000+ a week throughout the year, which I did, well it averaged out that way, the big weeks make up for the slow weeks, but it turns out in the end.

This is on a commission pay scale.

2% raise here at turn of the year.
 

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Plumber Manhattan Beach
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828 Posts
I beat last years goal and gave myself a raise. I don't mind paying taxes, it is our duty as citizens, as a matter of fact, if more paid taxes the country wouldn't be as bad as it is and our public services like hospitals and schools wouldn't be so poor.

I do like the refund checks, although I haven't seen one in awhile, maybe this year :thumbup: getting an "extra" check is always cool:yes:
 

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Always Something
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Excellent work Ron! I am sure you are psyched.

My business has been growing and growing, the first 1.5 years I made barely anything. Now, I am finally making money in the business, and my wife has been able to quit her well-paying job ($50,000.yr.+benefits) so I can support her and she can raise our baby.
It makes me feel like a real winner.:thumbup:

I give thanks every day.
As you should!

I did the same thing as you about 5 years ago, and here's my take on that. It's the greatest feeling in the world when mom can raise the kids and not Lupe who beats your kid at the day care. And at the same time, the lows suck. When money gets tight it's your fault, that stress is something I am still learning to deal with and not doing a very good job (that is an understatement to say the least).

It's days like today that I stop and think how lucky and blessed I am to have all that I do.


Sorry, what were we talking about? Death and Taxes?
I just sent another payment to my CPA to continue to fix 02-03 that a different CPA royal-ly screw me on!:cry:
 

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Me too , BUT with my online stuff, ( plumbing related )

I didn't expect to make money on Turkey dAY but I did and this year has been good to me :)

But Most of all , Glad to hear the rest of you are doing well .
 

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residential service
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Last year was our best year ever. This year through the end of october we were about 10k ahead of last years pace. November has historically been one of our very worst months. This year we blew the doors off of November which leaves us about 20k ahead of last years pace. Last year December was pretty poor as well (I take a week off for Christmas) so we have a very realistic chance of ending 25k - 30k ahead of last years pace at year's end.

I'm a one man shop with my wife handling the phones, dispatching, and scheduling. We split the office work. I think I have pretty much maxed out what a single truck with a single tech can produce. We had actually been interviewing awhile back to add either an apprentice or maybe even a tech and truck. When the economy blew up I got cold feet because I didn't want to hire someone only to let them go shortly thereafter. Also we were coming into the slow part of the year for us historically. I've been waiting to see the slow down and haven't seen it yet. If it holds up I think I will begin interviewing again at the first of the year.

Now if I can just keep Obama out of my pocket!
 

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Certified Lunatic
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20,658 Posts
I usually manage to figure my taxes down to where I get a couple of hundred back. I have no interest in providing the goverment with a no interest loan... In fact I'm looking to have them send me some of that bailout money!:laughing:

I promise That I will use it better than the financial or auto industries!:thumbup:
 

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My accountant always wants my business account down near zero at the end of the year ,, otherwise I owe ??!!

How the F ### does uncle Sam ever expect us to get ahead if we get SLAMMED for having profit ?

Having a good year anyway ,,:)

Cal
 

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Banned
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My accountant always wants my business account down near zero at the end of the year ,, otherwise I owe ??!!

How the F ### does uncle Sam ever expect us to get ahead if we get SLAMMED for having profit ?

Having a good year anyway ,,:)

Cal
The so called profit is actually future operating expenses/overhead. We make sure we pay every last bill we can before the end of the year, just to get the profit numbers down. So far, with four trucks, depreciation keeps the tax man at bay. Once they are all depreciated, we expect to pay a lot in taxes.
 

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Registered
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Crazy ,

Thats the part that drives me nuts !! We all have bills after Dec. 31st ,,, The IRS needs to change that law ,,, let us keep OUR money to pay bills instead of taxes on it.

Happy Thanksgiving

Cal
 
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