Finally took the plunge

**magnet** · 12-19-2015, 04:55 PM

Mike Best of Luck on your new business it's a great way to start the new year.

**pascoEscraper** · 12-19-2015, 05:46 PM

thats for sure… only one more reason to find an accountant you can work with. and when I say work with tell them everything… so that you can get the best advise. its like the old saying" garbage in garbage out….. if you don't give the accountant your whole thoughts it could lead you down roads you do not want to go down…
The best and only advise is the safe advise …. ask your accountant !!!

as for what you can deduct and what you should keep tract of again yes milage fuel receipts and many other things.. but before you get too far again . best advise ASK your accountant!!!???? it will be the best money you spend…. oh yea and as an LLC you do write off the cost of your accounting expense.

after all is said and done and you get as much advise from here …. just go have fun try to make as much money as you can… but always have fun doing it…..

**Mike1286** · 12-19-2015, 08:15 PM

Thanks for the congrats and advice guys. Definitely keeping track of my mileage and expenses. I've read so much in the last couple months about taxes and business, I should have an honorary degree in both. Lol. I will for sure be taking a loss this year. But that's part of the plan. I've been stockpiling a good amount of material for the last few months. Probably have a good 500-1500 dollars worth of stuff stashed. It's all going to be cashed in mid January as a payback of my initial investment. So I'll have a better return for this year, and a good start for next year. And I have a few big ticket items in mind to use the profits on once they start to show. Mainly a lift gate and a trailer. Both "ordinary and necessary" for my line of work. (And deductible lol) I was originally gonna wait til start of next year to get the ball rolling, but glad I started now. I think it's going to favor me more in the long run this way.