From: MV (MV@dc9.tzo.com)
Date: Fri Mar 18 2005 - 12:12:47 PST
Well, you do have to keep the books straight. But it is totally legit.
Ask any lawyer or accountant.
You are not required to make a profit if you have a corporation.
Breaking even is sufficient. Look at GM, they can lose money and still
keep chugging. (;->)
That's what I would like to do, be able to lose a couple hundred million
and still have my job/company. You could have a lot of fun losing a
couple hundred million! (:->)
Dave
Larry Tighe wrote:
> IRS! Here we come :>) We is all gonna be in d' jail house!
>
> lar
> www.antiquetelephone.com
>
>
>
>> Hey, it's only money right?
>>
>> If you think that us MV vehicle owners have it rough, just think about
>> the guy who bought a 42 foot gas powered boat to run it in the ocean
>> or great lakes. A lot of those hogs get less than 1 mpg.
>>
>> I know a guy who has a 36 footer with dual big blocks and he can get 1
>> 1/2 to 2 if he doesn't run it too hard. I asked him how can he do
>> that? He said he budgets in 2-3000 per year for gas (this was a
>> couple of years ago - meaning $4-6000 now!) But the guy had some money.
>>
>> Another way to go with this stuff is to do something like setup a
>> corporation or probably better yet an LLC and make your trucks assets.
>> Do some hauling on the side - not all of the vehicles have to be used
>> - (probably have to get a CDL) and make some money. All vehicle
>> expenses come right off the top of the income pile. So if you make
>> $4000 and you have $4000 worth of expenses, you pay virtually zero in
>> tax. That way you can write off that 5 ton jack you wanted, all of
>> the oil and filters, paint and etc and your personal bank account
>> doesn't go down the tubes when gas hits $3.50/gallon.
>>
>> The rock suppliers around me are getting $80 to deliver 20 tons of
>> rock 15 miles from the quarry. I recently paid a guy $600 cash to
>> deliver a gooseneck trailer that was 350 miles away.
>>
>> If you have setup a company before, then you know that you can do it
>> for about $500 or less. There is paperwork involved, but if you can
>> make some money to offset expenses, what the hey.
>>
>> No matter how high gas prices go, people are still going to pay to
>> have things moved.
>>
>> A couple of years ago, it was $40 to deliver 40 tons of rock 15 miles.
>>
>> I'm surprised that Bjorn isn't incorporated --- but then again,
>> perhaps he is?
>>
>> Dave
>
>
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