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CC Business Expenses

chicagoside

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Ikram
I asked one question few months ago, and iv got satisfactory replied from you all experts. I read posts pretty much everyday. I tried to find a thread about the business expenses for cc business, but i couldnt find any. So i thought to post a thread asking you all experts about, what are the expenses does a cc business have every end of the year(per truck)?(expenses includes from oil changes in TM/GAS to insurance and licence).

Thank you.
 

chicagoside

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Ikram
Are you asking how much the expenses are or what are our expenses (insurance, gas, ect)?
I am sure everyone has their own expenses or investment for their business. I also understand chemical price vary and everyone has their own choice of using chems. I am asking how much the expenses are in general?
 

Scott W

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Expense will vary depending upon your business model. For example, a business that works out of the home will have different expenses than one with an office and maybe an office staff. One business may have an outside sealesperson calling on potential accounts, another uses word-of-mouth advertising, a third uses all manner of advertising to keep 6 trucks busy every day.

Some companies are sole proprietarships which do nto pay a salary to the owner. Others may be LLC or S corp where the owners salary is paid and is figured as an expense.

The list of variables goes on and on.

Whatever any posts about how much their expenses run may be true for their business but is not likely to fit your business.

I do have a spreadsheet that helps you track your expenses and give you an idea if you are making a profit or not. Send an email to scottw@bridgewatercorp.net and ask for a copy.
 

Mama Fen

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I must add, Scott's expense spreadsheet is a true miracle. Guys who thought they were making a profit started breaking down how much they really spent on each job and the look on their faces is priceless every time. It's an effort to really fill it out accurately and honestly, but well worth it!
 

chicagoside

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I must add, Scott's expense spreadsheet is a true miracle. Guys who thought they were making a profit started breaking down how much they really spent on each job and the look on their faces is priceless every time. It's an effort to really fill it out accurately and honestly, but well worth it!
I just emailed Mr. Scott for a copy.
 

chicagoside

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Expense will vary depending upon your business model. For example, a business that works out of the home will have different expenses than one with an office and maybe an office staff. One business may have an outside sealesperson calling on potential accounts, another uses word-of-mouth advertising, a third uses all manner of advertising to keep 6 trucks busy every day.

Some companies are sole proprietarships which do nto pay a salary to the owner. Others may be LLC or S corp where the owners salary is paid and is figured as an expense.

The list of variables goes on and on.

Whatever any posts about how much their expenses run may be true for their business but is not likely to fit your business.

I do have a spreadsheet that helps you track your expenses and give you an idea if you are making a profit or not. Send an email to scottw@bridgewatercorp.net and ask for a copy.
@Scott W , You have no idea how much i appreciate you for sending me the spreadsheets. The spreadsheets is what something i had been looking for a long time. I even tried buying some carpet cleaning business books from Amazon. Most of those books contain general knowledge and business safety etc. Your two page spreadsheets contains a thousands words of book. Very easy to understand, you did a great job by making expense columns. Great work.

Many Thanks
 

aloha one

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@Scott W , You have no idea how much i appreciate you for sending me the spreadsheets. The spreadsheets is what something i had been looking for a long time. I even tried buying some carpet cleaning business books from Amazon. Most of those books contain general knowledge and business safety etc. Your two page spreadsheets contains a thousands words of book. Very easy to understand, you did a great job by making expense columns. Great work.

Many Thanks
Scott's the man to ask for sure. Helped me numerous times on numerous issues..Thanks Scott!
 

Mike Krall

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Well worth the $100 - $200 for a CPA consultant. They'll tell you about what sales tax you need to collect as well.
 
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Scott W

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Do we charge sales tax on services like carpet cleaning?
That varies by states. Sometimes even by city or county. You should check with coounty clerk or someone familiar with the rules in your state.

In Tennesse, we had to charge sales tax for cleaning an item that could be separetd from the real estate. No tax if it was part of the real estate Thus tax on rugs, no tax on installed carpet.
 
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Mike Krall

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Do we charge sales tax on services like carpet cleaning?
Yeah like Scott said it depends. Here in NY we don't charge on carpet, but we do on VCT work. Then you have the lovely issue of each county charging separate tax rates so you have to collect, track and pay those separate tax rates to the state.

Trust me it's well worth seeking out an expert for advice. You want to take advantage of every tax break you can, every write off you can and you want to keep track of all the records you need to. When and if you get audited it's going to interrupt your life and your livelihood. So you want to deal from a position of power and not from behind. A CPA and a lawyer is the best insurance you can buy. The funny thing is they only charge once for advice whereas your insurance companies charge you every month for life no matter if you've been good or bad.
 
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Mike Krall

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Expense will vary depending upon your business model. For example, a business that works out of the home will have different expenses than one with an office and maybe an office staff. One business may have an outside sealesperson calling on potential accounts, another uses word-of-mouth advertising, a third uses all manner of advertising to keep 6 trucks busy every day.

Some companies are sole proprietarships which do nto pay a salary to the owner. Others may be LLC or S corp where the owners salary is paid and is figured as an expense.

The list of variables goes on and on.

Whatever any posts about how much their expenses run may be true for their business but is not likely to fit your business.

I do have a spreadsheet that helps you track your expenses and give you an idea if you are making a profit or not. Send an email to scottw@bridgewatercorp.net and ask for a copy.
See information like that is priceless. I'm an LLC, but if I sought out the right advice and was either an LLC filing as an S Corp or an S Corp outright I'd be taxed at a lower level.
 
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Mama Fen

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NC is just like Tennessee - if it's wall-to-wall installed, it's not eligible for the new "labor tax"... but if it's removeable (ie, a rug), you guys are taxed on your labor to clean it. Also, if you sell a customer a grooming tool or bottle of spotter, you're charged a sales tax for that too.
 

Mike Krall

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Apr 24, 2013
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Mike Krall
NC is just like Tennessee - if it's wall-to-wall installed, it's not eligible for the new "labor tax"... but if it's removeable (ie, a rug), you guys are taxed on your labor to clean it. Also, if you sell a customer a grooming tool or bottle of spotter, you're charged a sales tax for that too.
Who makes these ridiculous tax laws up? Oh wait...
 

Raul Villalobos

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Expense will vary depending upon your business model. For example, a business that works out of the home will have different expenses than one with an office and maybe an office staff. One business may have an outside sealesperson calling on potential accounts, another uses word-of-mouth advertising, a third uses all manner of advertising to keep 6 trucks busy every day.

Some companies are sole proprietarships which do nto pay a salary to the owner. Others may be LLC or S corp where the owners salary is paid and is figured as an expense.

The list of variables goes on and on.

Whatever any posts about how much their expenses run may be true for their business but is not likely to fit your business.

I do have a spreadsheet that helps you track your expenses and give you an idea if you are making a profit or not. Send an email to scottw@bridgewatercorp.net and ask for a copy.
Scott, would I be able to get a spreadsheet? Thanks!