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Thread: Tax Tips & for independent Lawn mowers

  1. #1
    Senior Member LGGF's Avatar
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    Cool Tax Tips & for independent Lawn mowers

    Being new to the lawn mowing industry, does anyone have any tax advice that will reduce the amount of tax an inpendent lawnie will have to pay.

    Does anyone have their vehicle/trailer registered in a business name? what are the benfits etc of this?

    When is the best time to purchase new equipment to offset tax?

    I liked Dean's advice re offering a free cut quote:
    "If you offer a free cut for long term customers or any customer this can be turned into Advertising deduction check with your accountant to have a tax deductable promotion"

    Any other tips to reduce the amount of tax will be welcomed.

    Thanks in advance.

    Happy Australia Day

  2. #2
    Senior Member 4 Gardens's Avatar
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    Default Re: Tax Tips & for independent Lawn mowers

    Find a great accountant - they are worth every cent.

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    Default Re: Tax Tips & for independent Lawn mowers

    Quote Originally Posted by 4 Gardens View Post
    Find a great accountant - they are worth every cent.
    Yepx2. And concentrate on your top line, everything going well your bottom line should fall into place and if you have that accountant it will!

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    Member Of Forum MowerRob's Avatar
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    Default Re: Tax Tips & for independent Lawn mowers

    Quote Originally Posted by LGGF View Post

    Does anyone have their vehicle/trailer registered in a business name? what are the benfits etc of this?

    When is the best time to purchase new equipment to offset tax?

    Thanks in advance.

    Happy Australia Day
    Ya vehicle and trailer dont have to be registered under a business name as long as you can prove you use them for ya business you will be find

    Dont buy equipment for the sake of trying to pay tax

    as others have said get a good accountant they will save you money

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    Member Andy B's Avatar
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    Default Re: Tax Tips & for independent Lawn mowers

    How do you find a great accountant?

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    Member Of Forum MowerRob's Avatar
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    Default Re: Tax Tips & for independent Lawn mowers

    Quote Originally Posted by Andy B View Post
    How do you find a great accountant?
    word of mouth

    and my comment about buying equipment meant to say dont buy equipment for the sake of trying not to pay tax
    You only pay 30cents in the dollar of ya profit so in theory u are paying 70cents extra for equipment ya dont need better off either just paying tax or better still put in Super

  7. #7
    Senior Member 4 Gardens's Avatar
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    Default Re: Tax Tips & for independent Lawn mowers

    Quote Originally Posted by MowerRob View Post
    word of mouth
    Its the same way most people find a great gardener

  8. #8
    Member Andy B's Avatar
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    Default Re: Tax Tips & for independent Lawn mowers

    Quote Originally Posted by 4 Gardens View Post
    Its the same way most people find a great gardener
    na some people find me in the paper. lol

    I'm looking for one that is local to me, a few have been recommended by other guys but I need to find one near by myself but not sure what questions I should be asking them before I commit to a sit down and pay the dollars to them? I've tried a group of accountants that said they specialize in small business but they would say one thing and do something else and I really had to pull their teeth out to learn anything from them. Do I need a financial advisor or bookeeper to teach me things or should an accountant teach me a thing or two in preparation for the following year?

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    Senior Member Mrs HMS's Avatar
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    Default Re: Tax Tips & for independent Lawn mowers

    Ok I am biased (as you know) but in my experience Financial Advisors are pro-active (work out what you can do to reduce tax BEFORE you earn the income), accountants a re-active (work out what you can claim as a deduction after the fact) however both have are very important in their different ways, get them working together and you can't go wrong.

    I know an amazing group of accountants that specialise in small business and self-employed, however they are not local to you Andy, not that I think that matters, go wherever you can find the best. A little bit of travel is worth it if you can save yourself some tax.
    ~ Joanne ~

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    Member Of Forum MowerRob's Avatar
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    Default Re: Tax Tips & for independent Lawn mowers

    Quote Originally Posted by Andy B View Post
    na some people find me in the paper. lol

    I'm looking for one that is local to me, a few have been recommended by other guys but I need to find one near by myself but not sure what questions I should be asking them before I commit to a sit down and pay the dollars to them? I've tried a group of accountants that said they specialize in small business but they would say one thing and do something else and I really had to pull their teeth out to learn anything from them. Do I need a financial advisor or bookeeper to teach me things or should an accountant teach me a thing or two in preparation for the following year?
    You only have to see them once a year so a little travel shouldnt be a problem therest of the communication can be done by phone email and post

  11. #11
    MEMBER Fred's mowing's Avatar
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    Default Re: Tax Tips & for independent Lawn mowers

    My accountant is Jewish...,,nuff said!
    Cheers Fred.

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    Senior Member bb1's Avatar
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    Default Re: Tax Tips & for independent Lawn mowers

    Unfortunatley accountants aren't how they used to be and give advise before hand, they now only give advise on how to handle what you have done, they leave it up to you to go out and find ways than they either say yes or knock it on the head. Got this advise from a top accountant, he said due to liability they no longer give out advise that hasnt come from the client in the first place.

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    Default Re: Tax Tips & for independent Lawn mowers

    Quote Originally Posted by bb1 View Post
    Unfortunatley accountants aren't how they used to be and give advise before hand, they now only give advise on how to handle what you have done, they leave it up to you to go out and find ways than they either say yes or knock it on the head. Got this advise from a top accountant, he said due to liability they no longer give out advise that hasnt come from the client in the first place.
    now they just send you to a financial adviser who's possibly got some kind of affiliation with themselves
    Anything Ian says may or may not be garbage, it may also be his own opinion or it may not be his opinion at all, it may just be something he felt like stating anyone following his advice does so at their own risk and may be doing something Ian would actually advise against.
    And if you don't like what Ian has to say use the ignore function if you don't know how ask i will gladly tell you

  14. #14
    Senior Member Mrs HMS's Avatar
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    Default Re: Tax Tips & for independent Lawn mowers

    Quote Originally Posted by ian View Post
    now they just send you to a financial adviser who's possibly got some kind of affiliation with themselves
    We have affiliations with a couple of groups Ian but it's not a financial arrangement, just us having spent years working out who we think the best of the best are. Affiliations aren't necessarily a bad thing. As I said before if you get all your advisors working together for YOUR benefit it's the best of both worlds.
    ~ Joanne ~

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    Senior Member bb1's Avatar
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    Default Re: Tax Tips & for independent Lawn mowers

    The financial advisors I have had dealings with have only looked at the benefits for one person, themselves. Sorry I have a low opinion on financial advisors, they only push products and advise where they have a kick back.

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