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Can't Decide What To Buy

Discussion in 'Commercial Snow Removal' started by royals30, Nov 10, 2014.

  1. royals30

    royals30 Junior Member
    from MO
    Messages: 11

    Needing to spend about $10,000 before the tax year is over and I can't decide if I should buy a truck and a blade or a skid steer and blade. Can I even get a skid steer at that price? Open to any and all suggestions
  2. leolkfrm

    leolkfrm PlowSite.com Addict
    Messages: 1,980

    why not use it to update equipment you have?
  3. royals30

    royals30 Junior Member
    from MO
    Messages: 11

    The equipment I have is only two years old or newer and in good shape. I like to add to my fleet if possible
  4. Buswell Forest

    Buswell Forest PlowSite.com Addict
    from NH
    Messages: 1,668

    Need to do a cost / benefit analysis. Only you can decide what you need most.

    What sort of plowing do you do? Is there an area you can expand into? What do you do in spring summer and fall? What would compliment those seasons best?
  5. jhall22guitar

    jhall22guitar PlowSite.com Addict
    Messages: 1,056

    Backup sander/salter? Buy supplies you might need?
  6. grandview

    grandview PlowSite Fanatic
    Messages: 14,609

    401k or what ever you have.And fire your accountant for having this money on the books.
  7. leigh

    leigh 2000 Club Member
    from CT
    Messages: 2,342

    If you don't really need any equip,put the money in the bank and take the tax hit!I'd rather bank 7k than piss it away to save a few k on taxes.
  8. Blizzard1980

    Blizzard1980 Senior Member
    Messages: 187

    This is not based on 10k total only. This 10k could mean paying between 15% or 34% to Sam assuming he has to stay under certain amount
  9. leigh

    leigh 2000 Club Member
    from CT
    Messages: 2,342

    Good point,but 10 k isn't going to jump that many brackets,but its nice have someone tell us to spend money, "but honey,our accountant says we have to spend this money....."
  10. Jguck25

    Jguck25 Senior Member
    Messages: 594

    That's the last thing anyone should tell the wifey..
  11. Antlerart06

    Antlerart06 PlowSite Veteran
    Messages: 3,437

    buy 10k worth of salt in few months you might double your money.

    I had do same thing this year but I need spend 50k So I bought a truck dump bed and a plow

    10k I would buy a better sidewalk rig
  12. cet

    cet PlowSite Fanatic
    Messages: 7,257

    Tax in Canada doesn't work like that and I'm pretty sure in the US too. You can't make 10k more and take home less then if you didn't make it.

    I wouldn't buy something for the sake of a tax brake, put it in a 401K or leave it in the business. Corporate tax here is 16%.
  13. derekslawncare

    derekslawncare PlowSite.com Addict
    Messages: 1,003

    Hey R-30, where in MO are you? What is the company name? Just wondering if I have seen your trucks.
  14. AccuCon

    AccuCon Senior Member
    from CT
    Messages: 619

    One word....Ventrac
  15. Mark Oomkes

    Mark Oomkes PlowSite Fanatic
    Messages: 13,258

    I love it when my accountant tells me that.

    But he rarely does, I usually have the spending under control.

    If you don't need the equipment, how about a bonus?
  16. Buswell Forest

    Buswell Forest PlowSite.com Addict
    from NH
    Messages: 1,668

    Invest every dime in Lockheed Martin. And keep buying stock every time you get enough to buy.