Quote:
Originally Posted by Sledhead71
No such thing as a write off Ken, it's called and expense and when your expenses are more than your profits, well we all no how that works..
Don't forget, you turn a profit on your so called cash grab, well the tax guy don't toss this out when you submit your quarterly payment either 
I encourage all to grab a business licence, sign a lease and hang a sign in the front window indicating your open for business |
I am familiar with expenses.
When your expenses are higher than your income you claim a shareholders dividend when you are in the black.
Shop supplies are absolutely reimbursed in that you deduct 100% of them as necessary supplies off the gross income, then bill the customer for them as well, and only pay a fraction of it back as income. Lol!
Any mechanic with more expenses than income has a very creative accountant, just bought out the partner, or is not a businessman.
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Only dead fish go with the flow. The rest use their brains in life.
Originally Posted by Twisted Canuck
I wasn't thinking far enough ahead for an outcome, I was ranting. By definition, a rant doesn't imply much forethought.....
