[FourDiamond]

It looks like winter is over for most of the country. Here in Northeast PA, it came in like a lion with 15 inches on November 15th, and ended with 3 inches in the higher elevations on March 22. In between, it was so-so, we received only 44 inches this season, which was about 30 inches less than the totals for each of the last two seasons. As a company, we did ok by added a few larger accounts and dropping a few PITAs. Already trying to line up new accounts for next year, and dreaming about updating equipment. How was 2018/2019 for everyone else?

 

[SHAWZER]

Not over here yet , 2 " and still snowing .......

 

[jonniesmooth]

I haven't heard an official total, but I believe we were over 60" for a total. Started right after Christmas. Most of the accumulation came in 4-5, 2-3 day events . 8- 15" at a time followed by 30-50 mph winds.
March came in like a lion, the first 10 days and then we were done. Although we are known for a late April blizzard to end the year. We never put equipment away till May.

 

[leigh]

Barely hit our average of 24 " Started nov 15 then nothing till jan 18,last storm on march 4.More salting than plowing.Revenue was down 25.1% from last year.

 

[SHAWZER]

We ended up with 8 - 10 inches of wet heavy snow last night . I like to think winter is over but I would not bet on it ...

 

[Randall Ave]

Barely hit our average of 24 " Started nov 15 then nothing till jan 18,last storm on march 4.More salting than plowing.Revenue was down 25.1% from last year.

No banner year here. Have to re think my approach to this over the summer.

 

[fireside]

After this winter and looking at new trucks today. I’m going to rethink the whole plowing thing.

 

[BossPlow2010]

After this winter and looking at new trucks today. I'm going to rethink the whole plowing thing.

Dibs on the MP...

 

[leigh]

After this winter and looking at new trucks today. I'm going to rethink the whole plowing thing.

I'm thinking I could sell all my equipment, buy a charter fishing boat and winter in the Caribbean. With my wife staying here and working ,I think I could get by with the money she'll send me plus the charter will be a cash cow, what could possibly go wrong?

 

[fireside]

Well I found out under the new tax laws sell or trading in equipment you now pay long term capital gains tax!!!! Yup really buy a new truck sell the old or trade in you pay capital gains. You could continue to pay over and over again on the same money

 

[Ajlawn1]

Well I found out under the new tax laws sell or trading in equipment you now pay long term capital gains tax!!!! Yup really buy a new truck sell the old or trade in you pay capital gains. You could continue to pay over and over again on the same money

You were always "supposed" to pay capital gains on anything over it's depreciated value...

 

[Aerospace Eng]

Well I found out under the new tax laws sell or trading in equipment you now pay long term capital gains tax!!!! Yup really buy a new truck sell the old or trade in you pay capital gains. You could continue to pay over and over again on the same money

Although I think this belongs in a different thread, it has always been this way for businesses.

You pay tax on the difference between what your book value is and what you sold it for, or take a loss if the difference is negative. You already had a tax benefit by reducing your income through depreciation.

Edit - AJ beat me to it.

 

[Ajlawn1]

Although I think this belongs in a different thread, it has always been this way for businesses.

You pay tax on the difference between what your book value is and what you sold it for, or take a loss if the difference is negative. You already had a tax benefit by reducing your income through depreciation.

Edit - AJ beat me to it.

Sorry...

 

[fireside]

You are all correct but the law changed to long term capital gain Vs the old net gain way. He said the new way is more expensive for reasons of taxation.

 

[Aerospace Eng]

You are all correct but the law changed to long term capital gain Vs the old net gain way. He said the new way is more expensive for reasons of taxation.

Generally speaking, Long Term Capital Gains have a lower tax rate than ordinary income.

 

[fireside]

Yes but not as good as the past way of doing it

 

[Mark Oomkes]

Well I found out under the new tax laws sell or trading in equipment you now pay long term capital gains tax!!!! Yup really buy a new truck sell the old or trade in you pay capital gains. You could continue to pay over and over again on the same money

Don't you "scrap" old equipment?

As for winter being over...was it over when the Germans bombed Pearl Harbor???

 

[leigh]

You were always "supposed" to pay capital gains on anything over it's depreciated value...

Don't you "scrap" old equipment?

So the key is you're supposed to scrap your old equipment. And someone will give you cash for the scrap. Hmmm..

 

[abbe]

So the key is you're supposed to scrap your old equipment. And someone will give you cash for the scrap. Hmmm..

Key word....cashhhhhh

 

[Charles]

Getting off track here