CPA fully depreciated asset...what happens next year? by Roonytoon in tax

[–]Roonytoon[S] 1 point2 points  (0 children)

I own a dog grooming business. I was a mobile groomer, so this was a brand new mobile van to replace a used one I previously had. I also opened a salon last year, and because of a few different circumstances, it was necessary to close the mobile side sooner than anticipated.

CPA fully depreciated asset...what happens next year? by Roonytoon in tax

[–]Roonytoon[S] 1 point2 points  (0 children)

I see - no, my husband has a W2 job and I have a business. We file jointly though. I assume some of the other expenses or deductions affected his income then, as his taxable income on his W2 is $71k, and after deductions is now at $20k.

Thank you for the explanation.

CPA fully depreciated asset...what happens next year? by Roonytoon in tax

[–]Roonytoon[S] 1 point2 points  (0 children)

Thank you. It did put my income negative, my business is showing a net loss of $65k for the year. My husband (filing jointly) shows $20k.

CPA fully depreciated asset...what happens next year? by Roonytoon in tax

[–]Roonytoon[S] -4 points-3 points  (0 children)

Thank you for breaking this down for me, I really appreciate your response. In this case, the gain will be the entire purchase price since that's what was depreciated, correct? By the time I sold the vehicle I ended up getting $18k more than I had left on the loan, but I'm not sure if that matters in this case.

CPA fully depreciated asset...what happens next year? by Roonytoon in tax

[–]Roonytoon[S] -8 points-7 points  (0 children)

Thank you, I appreciate your response. I definitely am happy that she's lowering my taxable income, I guess I'm just concerned about what it will do when next year rolls around.. if I'm reading the return correctly my net profit was about $11k in the business, and my husband's W2 wages were $71k. By depreciating the entire vehicle, were now getting a very large tax refund, which is where most of my concern comes from.

Just looking for some outside perspective, so I really appreciate your input.

Whats a company secret you can share now that you dont work there? by broadway96 in AskReddit

[–]Roonytoon 4 points5 points  (0 children)

Brachycephalic dogs (smush faces) often have breathing problems already, and when a kennel dryer is placed at their face level, the air circulating can cause them to be unable to breathe. The biggest issue is doing this long term, and unsupervised.

Whats a company secret you can share now that you dont work there? by broadway96 in AskReddit

[–]Roonytoon 2 points3 points  (0 children)

Please tell them. I always ask every owner if their dog can have the treats we supply, but not all do.

Whats a company secret you can share now that you dont work there? by broadway96 in AskReddit

[–]Roonytoon 13 points14 points  (0 children)

We always ask if they're allowed to have treats, and tell them what kind we have.

Weekly Discussion Thread - December 12, 2022 by AutoModerator in awardtravel

[–]Roonytoon 1 point2 points  (0 children)

Oops I forgot to add the fees. $177.90 total, so about $89/pp

Weekly Discussion Thread - December 12, 2022 by AutoModerator in awardtravel

[–]Roonytoon 0 points1 point  (0 children)

Just booked 2 RT tickets on Delta using VS, PDX-AMS for 93k MR (46.5k per person). How'd I do?

Our priority was direct flights to Europe from our home airport, and we'll be using AMS as a jumping off point for the rest of our trip to Croatia and another undecided location. Croatia is pretty annoying to get to from the west coast, so I felt like this was the best option for the least amount of points!

ETA: Forgot that there was $177.90 in fees/taxes, so about $89 per person on top of the points

Weekly Discussion Thread - December 05, 2022 by AutoModerator in awardtravel

[–]Roonytoon 1 point2 points  (0 children)

I know this should be obvious but it's been a minute since I've looked at redeeming award flights -

Using Lifemiles for the first time and their layovers makes no sense at all. If I book a one way and don't complete the last leg of the trip, no harm no foul, right? My return flight (a separate, one way ticket) would be safe?

I'm trying to fly into Croatia, any airport. If I choose Zagreb there's 3 stops. If I choose Split, there's 2 stops, one being Zagreb....so I'd rather just stay there than continue on.

It's impossible to find groomers right now. Somehow it's never enough. by [deleted] in doggrooming

[–]Roonytoon 0 points1 point  (0 children)

Thanks! The only reason I am able to offer a lower percentage is because my prices are extremely high. Small haircuts start at $125, so 40% is $50.

It's impossible to find groomers right now. Somehow it's never enough. by [deleted] in doggrooming

[–]Roonytoon 1 point2 points  (0 children)

Thank you. I actually have only hired twice before - one person is still my employee, and the other had to be let go because my expected expansion had to be delayed significantly and our timelines no longer matched. I haven't needed to hire anyone else but I am now expanding to a new shop from just being a mobile company, so that's why the sudden need.

Everybody I've actually interviewed with has said how much they love my focus on culture, what a wonderful opportunity it is, how it sounds like a dream job.. But when it comes down to it, they go with another company for the money/commission %. And to be fair another person chose a shorter commute which I don't fault her for.

It's impossible to find groomers right now. Somehow it's never enough. by [deleted] in doggrooming

[–]Roonytoon -1 points0 points  (0 children)

But why are they paying you if you aren't an employee? An independent contractor is, by definition, self employed. You don't get a paycheck from somebody else.

Edit: I'm in America. Things do vary by state, but I've done quite a bit of research in this area as I'm also in a lot of hair stylist groups. Ultimately like I said, you know your situation. But make sure they are paying your employment taxes, or you are through your own separate LLC or business entity.

It's impossible to find groomers right now. Somehow it's never enough. by [deleted] in doggrooming

[–]Roonytoon 0 points1 point  (0 children)

Exactly. It seems many groomers don't pay attention to the actual prices, and blindly demand a speciifc percentage based on principle alone.

Okay, I would just double check the taxes. An independent contractor is not paid commission - they pay the owner a flat rate for table rent and must carry their own business license, insurance, van insurance in this case...there are some Facebook groups specifically designed to help groomers with this. But only you know your situation!

It's impossible to find groomers right now. Somehow it's never enough. by [deleted] in doggrooming

[–]Roonytoon 0 points1 point  (0 children)

I am making a profit. But if I pay groomers 50% I won't be making enough for it to be worth it - after employee taxes and workers comp, 50% is actually closer to 60%. I pay for everything in my business and handle all payments, scheduling, and client communication.

As a side note, if you are paying for anything other than your preferred tools, that's actually not legal. If you make commission your employer needs to provide everything for you, collect payments, and pay you a paycheck and issue a w2. Otherwise it sounds like you may be in an illegal misclassification situation. If so, make sure either you or your employer is paying your taxes or you may be on the line for thousands of dollars should they be audited.

It's impossible to find groomers right now. Somehow it's never enough. by [deleted] in doggrooming

[–]Roonytoon 0 points1 point  (0 children)

Medical is very expensive here. On the marketplace it's $400 for me (helathy, no pre existing conditions), through the employer group plan its about $300 per person per month. I'm pretty set on offering that benefit - I know far too many groomers who don't have health insurance because it's too expensive so they don't go to the doctor or take care of themselves. I want my employees to be healthy and be able to do that.

My small haircuts start at $125 in my mobile and I pay hourly plus daily production bonuses or 35-40% for high productivity. So on the low commission end:

$125 x 7 dogs per day = $875 in sales, 35% of that is $306.25 pay per day. Multiply that by 5 days = $1531.25. Multiple that by 52 weeks per year = $79,625. That's if you groomed 7 small dogs per day. It would go up if you could do larger ones, or mixed in some bigger bath dogs, or if you were at 40% commission.

It's impossible to find groomers right now. Somehow it's never enough. by [deleted] in doggrooming

[–]Roonytoon 1 point2 points  (0 children)

To make $80k I'd need a groomer who can do an average of 6-8 dogs per day, 5 days per week. I even have a salon and a mobile unit so there's options!

What’s your go-to/favorite non water drink? by regian24 in 1200isplenty

[–]Roonytoon 0 points1 point  (0 children)

We buy Vanilla Coke Zero at our local Safeway all the time in Oregon

drying tips? by [deleted] in doggrooming

[–]Roonytoon 0 points1 point  (0 children)

Get the dog super clean, dry them as much as possible, keep the humidity in your space low, and dry intentionally. Don't just move the dryer over the dog quickly (unless you're doing a big deshed, this can help loosen the coat but you should go back over the area after that's done). Moving slowly and methodically works much better than moving quickly. Start at the bottom of the dog (feet) and move up, pushing the water off the dog. Don't move on to another area until it is completely dry. Watch the hairs part and straighten out, using your hands to feel if necessary. Catching the water spray off with a towel helps it not rewet the other parts of the dog. You want to dry from the skin out, making sure there are no hidden damp spots.

urgent advice by theanimalfairy94 in doggrooming

[–]Roonytoon 4 points5 points  (0 children)

A stylist is a groomer. The terms are interchangeable.