Write-offs! Equipment We Purchased for Year-End Taxes
Рет қаралды 77,240
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@spencer1803 3 жыл бұрын
The simplest way to explain: reinvest your profits on more equipment or you will be paying taxes on the profits.
@carlosHernandez-xj2fy 3 жыл бұрын
You’re always bringing nothing but facts to the table man. Respect to you and thank you for this content.
@FishFind3000 3 жыл бұрын
I stead of tossing the used equipment just sell it. That or during the off season fix them up and give them a tune up and get another season out of it.
@Heavychevy0402 3 жыл бұрын
Hey man, I would pickup all your “junk” equipment. I’m not as fortunate to be so profitable just yet as I’m at that beginning stage of getting the wheels turning but it’s been fun I’ll never give it up… a backpack blower would help substantially and I wouldn’t mind yanking on it to get er running it’s not like I don’t have to do it now sometimes
@k-lo6170 3 жыл бұрын
Was thinking same thing lol
@TheLandscapingLifestyle 3 жыл бұрын
Yes. This is the info that gets us all to the next level. Thanks for sharing. Love those ramp racks too!
@grandifloralandscaping 3 жыл бұрын
Great video. The ramp racks look super. We have a similar rack from a different vendor, we love it.
@lambboy3566 3 жыл бұрын
Yo I love kombisystem. Instead of having 10 different tools with their own power head, having two power heads and having the option to pick between 10 different tools saves space and money
@GrassCutterPinoyTV 3 жыл бұрын
Wooooow!👏👏👏 What an equipment, I saw a lot of lawn care equipment in KZfaq, But! You are the only one I saw you have a lot of tools and machine, Wooooow 👍👍👍
@ARBOLISTAEdgarGarcia 3 жыл бұрын
Always giving lots of value sir, thank you!!!
@19993gt 3 жыл бұрын
Just subbed. Keep putting us up on game bro!
@marioslawnmower7263 3 жыл бұрын
I have a lawn mower repair shop in socal we had a customer blow up the oem Kawasaki engine so we Honda swapped it came out pretty good I wish it was an oem option
@rayeckert9425 2 жыл бұрын
You can always sell good used equipment, especially the Stihl products.
@armandoveegara8863 3 жыл бұрын
Thanks Mike, stay warm.
@mikelooby8362 3 жыл бұрын
No scythes
@vallanddess 3 жыл бұрын
I will look into the ramp racks, they look good. I would like to try one setup. Unfortunately we have to catch a lot of grass in our market so I generally use dump trucks with trailers.
@vallanddess 3 жыл бұрын
@@MatthewSmith-uf6tr for you?
@normanortega3439 3 жыл бұрын
Yes very true but if your trying to minimize time spent from employees specifically entry level ones who can't really swang a trailer very well an your paying them this is a really good option but if your like solo I wouldn't recommend this
@RavensHardCore 3 жыл бұрын
Awesome tips! Thank you!!
@AdjustingCrowns 3 жыл бұрын
So good as usual 🙏💥🔥
@sebastianavelar1882 3 жыл бұрын
Don’t throw them away give them away
@willieslawncareservice.8436 3 жыл бұрын
What's up, you are a smart Young man Keep it up.👍👍👍
@Alex_Cevi 3 жыл бұрын
Great quality video!
@zachsmith3097 3 жыл бұрын
I would love to take that old equipment off your hands. Great video!
@rvadventures 3 жыл бұрын
Best tax deductible item, raises,401k, education for employees, insurance for your guys/gals.
@defaultcamo4288 3 жыл бұрын
Also pay yourself threw dividends and give employees dividend payouts
@DayZcustomMods 3 жыл бұрын
About to inherit my fathers business this is the stuff I need to learn and know about. I want my guys to have insurance a 401 and good pay. Take care of your staff they take care of you
@seanlowe4557 3 жыл бұрын
Great video!
@MilitaryLawnCutsLandscaping 3 жыл бұрын
What size trucks are you using with the ramp racks and have you found any issues with having too much weight in the bed?
@nickwit21 3 жыл бұрын
"Your not trying to evade your taxes" 💡 for the next video maybe! 😄
@ibenvanhaverbeke5071 2 жыл бұрын
@mike andes what you do whit your ‘old’ machines?
@victorflores429 3 жыл бұрын
Very informative!
@Sargeantyardpros 3 жыл бұрын
😮😮😮 I love seeing all this.
@jesussarabia4587 3 жыл бұрын
One question do you sell them or what do you do with them
@kingco.lawncare1928 3 жыл бұрын
Super high energy in this one lol
@jrtransportation7855 3 жыл бұрын
I Would Love Some Of Your Throw Outs To Help Me Grow If That's Ever A Consideration
@mattsfirewoodvideos738 3 жыл бұрын
Always good information from this guy
@MikeAndes 3 жыл бұрын
I appreciate that!
@logansimpson305 3 жыл бұрын
Great video
@nicksheehan.landscaping473 3 жыл бұрын
Great vid. Ever have a yard sale? Asking for a buddy....lol
@davidjohnston8954 3 жыл бұрын
i need it all first so now what i do with nothing yet
@michaelperry4398 Жыл бұрын
I think it's about 40 perfect savings, so you buy a new truck, it's like getting 40 percent off the truck,( money you would have given to Uncle Sam) still gotta have the other 60 percent though and the need, good video
@brookecraig9661 3 жыл бұрын
You really inspired me
@flat4314 3 жыл бұрын
Whats your thoughts on buying backup equipment? I have a backup for everything including truck and trailer but everthing I own is used except handheld equipment.
@MikeAndes 3 жыл бұрын
Definitely a good idea the bigger you become... and you can have cheaper trucks if you have a backup setup and equipment. I would rather have ten $12K trucks with a backup in case one went down.... than to have ten $50K brand new trucks with tons of debt but not needing the backup equipment
@ArbitraryLifestyle 3 жыл бұрын
Just a heads up, the 111R and 131R weigh the exact same @ 9.7lbs.
@PoNiCoN 2 жыл бұрын
And just a small/big tip about 2/4 stroke trimmers... Buy Stihl FS120R, which ones are 2 stroke and will last way more than all 4 stroke 111, 131....
@davidolson6832 3 жыл бұрын
"Because I'm a good little boy" hahahahahaha
@TheBenghaziRabbit Жыл бұрын
Man I would take your old equipment anyday. Any potential a solo starter could hit you guys up for some trash equipment?
@19993gt 3 жыл бұрын
Keep talking G!
@AztecDread 2 жыл бұрын
Can you write off items with only a EIN number? Or do I need an LLC?
@jorgevlogs2884 3 жыл бұрын
I want to know what to do it’s located so I can buy some things off of him
@kevinfairburn4917 3 жыл бұрын
When is good to sell an asset such as a diesel truck when you are moving away from diesel trucks? This year or next???
@MikeAndes 3 жыл бұрын
If you are going to sell it this year, I would recommend having the replacement purchases (other gasoline trucks) ready to be bought. That way you don’t get a big tax on selling the diesels and the new purchases can use a Section 179 to offset the asset sale. Otherwise, just wait till after January 1 would be my recommendation
@christopherweaver2346 3 жыл бұрын
Excellent 😎
@JonsDailyHustle 3 жыл бұрын
Gotta spend as much as you should. I'm a big one for not giving money to the government 🤷♂️🤣
@diegocastaneda5102 3 жыл бұрын
I actually loved the raw non edited part of the video hhaha
@MikeAndes 3 жыл бұрын
🤣
@kenlancto7582 3 жыл бұрын
Was the jacket an end of the year right off too. Looks like it hasn’t been worn while working.... sorry, just being a wise ass.... it was a very good video.
@MikeAndes 3 жыл бұрын
🤣
@danielhettema5845 2 жыл бұрын
To be a corporation would I be required to have employees other than myself?
@kennethalynn 3 жыл бұрын
Have you considered the Ferris fw15? 10hp Honda hydro self-propelled
@busybeelawnservice4492 3 жыл бұрын
We have to bag wet grass in the PNW. Don't think the Ferris would be a good fit.
@MikeAndes 3 жыл бұрын
We also don’t have a Ferris dealer nearby
@edwardperez4266 3 жыл бұрын
😂equipment heaven😂
@Robbielee46 2 жыл бұрын
hello, I have a question all videos I see based in America you guys all use a truck with racking, yet here in the UK we use vans or our tools would go for walks. any reason why trucks are preferred?
@MikeAndes 2 жыл бұрын
Vans are just more common in Europe. We also specifically have to remove clippings when mowing
@Robbielee46 2 жыл бұрын
@@MikeAndes thanks Mike, good info, and great videos.
@chuckbailey6835 3 жыл бұрын
There used to be a gun shop by me called Bob's gun exchange he was a genius his business was registering as B.G.E Inc so guys could by there guns with there business
@19993gt 3 жыл бұрын
WHAT IS P FOR P? Productivity for payment?
@erickbratt9804 3 жыл бұрын
Pay for performance
@RanGer-498 3 жыл бұрын
Are the trucks 4 x 4 or just rear wheel drive?
@MikeAndes 3 жыл бұрын
We got a couple of both
@dsyardcare2831 2 жыл бұрын
Awesome
@LuisEnriqueRubioChavez 3 жыл бұрын
Parking break? Mine doesn’t have one. Why?
@MikeAndes 3 жыл бұрын
If you are on slope, I guess...
@thomashammon9997 Жыл бұрын
Equipment heaven😂😂😂
@HeadBroski 3 жыл бұрын
Do you ever give old equipment away to your employees?
@justinvanmetre4358 3 жыл бұрын
Why not donate to a starter companies, trying to get in the business.
@Currency49495 3 жыл бұрын
What is your opinion in a partnership? My business is still small, under $100k and I work full-time. I plan to rebrand in 2022, form the LLC, and start pushing more marketing. With my health issues, I'm better off trying to work my way out of the field work later on. The interested party in a U.S. Citizen and likes sending the colder months in his home country. He's a good person, but I don't see any pro's to having a partner as I feel it could go two ways. They could push me further than I'd ever expect to go with the business, or push me into selling later as I couldn't cover the 50% to buy them out if they so desired. Thank you.
@MikeAndes 3 жыл бұрын
Long story short, I’ve never been a big fan of partnerships. I have seen too many end poorly. There are some incredible partnerships but they are rare.
@phelpshero2454 2 жыл бұрын
I want to live in the storage container
@cleancutslawncare 2 жыл бұрын
Got it. As long as I’m profitable, buy relevant equipment at end of year to avoid giving the damn government my hard earned money. Absolutely. Yes. Yes I will.
@rontopping2048 3 жыл бұрын
Should of invested in new garage
@ndn2589 3 жыл бұрын
Or you can give you employees a nice Christmas bonus
@unclejimmyray 3 жыл бұрын
Great video. Kinda looking like a kid who got into his dad's closet and put on his coat, hat & gloves playing dress up...🤣🤣🤣
@MikeAndes 3 жыл бұрын
🤣🤣 when “Small” isn’t small enough 🤣🤣
@unclejimmyray 3 жыл бұрын
I'm just jealous. 2XL life over here...lol!
@ericvidal440 3 жыл бұрын
Dont let this kid fool you , he is a lawncare care ninja , he will destroy the competition ,with no mercy
@unclejimmyray 3 жыл бұрын
@@ericvidal440 you lost me at "ninja". But yes, I'm well aware of Mike's prowess. Its why I was watching in the first place. Lots of gems in each of his videos...
@uniquelandscaping249 3 жыл бұрын
@@MikeAndes 🌟
@davidtoranzo7611 3 жыл бұрын
Mike Andes, UNCUT!
@emiliobriones5700 3 жыл бұрын
As a owner it’s all easy to just go out and buy random shit lol. I now just ask my workers what we need.
@MikeAndes 3 жыл бұрын
Exactly 😃👍🏻
@macheneclothing 3 жыл бұрын
Can you tell me what brand pants you use for uniforms? Thanks.
@MikeAndes 3 жыл бұрын
Not sure. Just found “tactical pants” on Amazon 😃
@macheneclothing 3 жыл бұрын
@@MikeAndes Thanks, watching from the Caribbean island of Antigua and Barbuda. 365+ beaches. Be sure to visit us one day. Keep up the good work, Blessings.
@19993gt 3 жыл бұрын
Y’all more about write offs bro!
@mattbrigner4815 2 жыл бұрын
Did Kohler pay you to say that...😂 I'm teasing
@A-P.G.T.VLandscaping 3 жыл бұрын
Do you have an email I can ask you questions about
@MikeAndes 3 жыл бұрын
Best way to submit questions is join the texting platform... every few weeks I take questions and answer them 👍🏻 (info is in the description of the video)
@richardfittzwelllll231 3 жыл бұрын
With that being said are you a LLC or s corporation?
@MikeAndes 3 жыл бұрын
S Corp
@richardfittzwelllll231 3 жыл бұрын
@@itzguccigame8725 Thanks for the info... I will be looking into this more. We need more educated comments like yours in these replies. Thank you have a great day!
@24BLUEELMO 3 жыл бұрын
I'll take your equipment throwouts
@Cardinalfloors 3 жыл бұрын
Always buy some write offs for the receipt then I literally sell or return them 😂
@MikeAndes 3 жыл бұрын
Be careful. An auditor won’t like that 😉
@Cardinalfloors 3 жыл бұрын
@@MikeAndes hahahahahaha it was all a big joke! 😂😂 😉
@MikeAndes 3 жыл бұрын
😂😂 u got me. Thank goodness! Someone else in the comments a week ago said the same thing and I don’t want anyone trying that. 🤦♂️🤦♂️
@kingco.lawncare1928 3 жыл бұрын
You: let’s record this somewhere else so we can cut it Editor: goes out of his way not to edit it out 😂
@MikeAndes 3 жыл бұрын
🤣🤣
@seizedlambgaming2889 3 жыл бұрын
@@MikeAndes how many trucks do you have?
@dunritelawnmaintenance7984 3 жыл бұрын
Would you be interested in selling the equipment you get rid of ? I buy used and new but I work on equipment also the statement of hard to start on a cold morning after they get 4 seasons old is false I have a fs90r 7 years old still in service still starts on 2nd or 3rd pull on cold mornings and 1 or 2 times on hot days
@LuisEnriqueRubioChavez 3 жыл бұрын
Stihl seems to be the top brand but I just can’t buy . The blowers and weadeaters look ugly so I’ve decided to just stick with echo x series brand
@juanflores42 3 жыл бұрын
Negative
@heccort3843 2 жыл бұрын
Thise 30" mowers are crap...too heavy and with time you have to push it mire and more.
@scanz7837 3 жыл бұрын
Pay more money and get a good tax accountant!
@03_tahoe 3 жыл бұрын
You should at least sell them or something
@woods.water.123 3 жыл бұрын
Buy it with tax bill then sell for profit. Rinse and repeat.
@MikeAndes 3 жыл бұрын
You would still have to pay taxes on the profit... 🤔 did I read it wrong?
@woods.water.123 3 жыл бұрын
@@MikeAndes you didnt read it wrong i just left out detail. But yes you would have to pay taxes on the profit but you would still be making money and could do it again
@woods.water.123 3 жыл бұрын
Or if the equipment “breaks” or gets stolen but u really just sell them for cash and dont report it
@josiahhott4395 3 жыл бұрын
Nice video. I don’t know if you know but I believe someone hacked into your account in the last video I watched I got all these weird replies. Thanks 🙏
@MikeAndes 3 жыл бұрын
I am sorry. S account wasn’t hacked. Someone made an account with same name and picture and started marketing their Bitcoin garbage
@josiahhott4395 3 жыл бұрын
@@MikeAndes got it, thanks for the reply!
@tomjennings8445 3 жыл бұрын
You’re kind of cute
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