Finally nailed my taxes as a flooring guy after years of guessing
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FloorFanatic
·21d·67 replies·53 participants
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FloorFanatic👑 LegendOP21d
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Been in the flooring game for 12 years now, mostly installing LVP and hardwood in homes around the Chicago area my whole career. Switched to using QuickBooks Online this year to track all my material costs like the Coretec planks and Mohawk glue-down stuff, and it made deducting everything from my van gas to the Festool sander a breeze. Hit a personal best with $85k net after taxes, feeling damn proud 'cause last year I overpaid by a couple grand. Saw a thread on r/Flooring where someone mentioned hiring a CPA specializing in trades, and yeah, that was the move. Guy in the Flooring Contractors Network group swore by writing off the home office setup too. No more scrambling at April 15th for me.
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OddJobOutlaw⭐ Expert21d
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man i feel that, taxes always sneak up on me like a bad subfloor.
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WeedWhacker4⭐ Expert20d
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same here, every year its a crapshoot.
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PestPatrol2🏆 Master20d
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yep, been there.
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RustyNails🏆 Master20d
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congrats on the $85k, that's solid for solo flooring work. i pulled in similar last year after optimizing my deductions on tools.
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OddJobOutlaw⭐ Expert19d
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nice, what'd you deduct that made the difference?
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WeedWhacker4⭐ Expert19d
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chicago taxes are brutal, i commiserate.
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PlumbDum⭐ Expert19d
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tell me about it.
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PestPatrol2🏆 Master18d
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ugh, taxes suck for us small guys.
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ColorCrazeCarl⭐ Expert18d
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agreed, feels like the irs targets trades.
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OddJobOutlaw⭐ Expert18d
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screw the tax man, they take too much from honest flooring installs.
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PipeLord42026⭐ Expert17d
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hell yeah, PE firms get breaks we dont.
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TarPaperTiger2⭐ Expert17d
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its all rigged against us.
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NailBender🏆 Master17d
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frustrated every filing season.
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PlumbDum⭐ Expert16d
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get a good cpa, mine saved me 2k on vehicle mileage alone.
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ColorCrazeCarl⭐ Expert16d
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use quickbooks integrations for easy 1099 tracking on subs.
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SprayMaster⭐ Expert16d
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track every receipt from supply house runs.
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PipeDreamer7⭐ Expert15d
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proud of you too, i just filed and came out ahead for once.
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TarPaperTiger2⭐ Expert15d
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mileage deduction is key, log every job site drive.
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BlowerDoorBob⭐ Expert15d
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yep, app like mileiq makes it painless.
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PipeLord42026⭐ Expert14d
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shoulda started earlier, now im buried in paperwork.
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NailBender🏆 Master14d
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lmao, my cpa laughed at my shoebox of receipts.
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BlowerDoorBob⭐ Expert14d
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dont sleep on home office if you do installs from there.
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PadlockPro⭐ Expert13d
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true, but audit risk if not legit.
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PadlockPro⭐ Expert13d
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congrats man, scaling up sounds good.
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ConduitCrafter👑 Legend13d
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yeah, keep pushing.
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PeakPitcher🏆 Master13d
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solid win.
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ConduitCrafter👑 Legend12d
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irate at how much they take from lvp jobs.
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PeakPitcher🏆 Master12d
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chicago winters mean more indoor work, but taxes eat the profits.
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PrunePro🏆 Master11d
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use schedule c religiously for all flooring expenses.
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RustyWrench⭐ Expert11d
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screw the system, we bust ass for peanuts after taxes.
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SpotlessSteve⭐ Expert11d
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i track my hurst power stretcher as equipment deduction.
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FreonFanatic⭐ Expert10d
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commiserate, filing solo is a nightmare.
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RollerRanger2🏆 Master10d
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commiserate hard, every quarter.
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KeyMaster6⭐ Expert10d
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yeah, its rough.
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KeyMaster6⭐ Expert9d
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taxes hit different in trades.
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PackRatPro3⭐ Expert9d
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united against this bs, they should cut us a break for the backbreaking work.
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LeakHunter7⭐ Expert9d
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deduct your knee pads and back braces, its all work related.
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BugBlasterBen🏆 Master8d
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hire a bookkeeper if you can swing $300/month, worth it for peace.
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ChillMaster3👑 Legend8d
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asking, whats your go-to for quarterly estimates?
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SpraySavant⭐ Expert8d
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sharkbite style quick deductions, grab everything you can.
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JoistJockey7🏆 Master7d
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flat out refuse to overpay, fight every audit.
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DrainDiver6⭐ Expert7d
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we're getting screwed by rising rates on top of everything.
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CleanFreakCarl2🏆 Master7d
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man, i get it, taxes wiped me out last year.
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TenYearVet9👑 Legend7d
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warning, dont mix personal and business accounts or youre toast in audit.
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RoachRidder🏆 Master6d
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collective rage at the irs, they dont get what we do.
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RoofRat873⭐ Expert6d
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lmao taxes are like installing tile in a flood zone.
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ShingleShaman3⭐ Expert6d
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sick of the paperwork bs.
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SawdustSavant4👑 Legend5d
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trades get hosed compared to office gigs.
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GutterGuru3⭐ Expert5d
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sharktank this, deduct the whole damn van if its wrapped.
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MopAndGlo🏆 Master4d
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had a client laugh at my tax bill, said it was highway robbery.
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FixItFred⭐ Expert4d
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use turbotax for trades, has good prompts for tools.
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VoltageVagabond2🏆 Master4d
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i feel your pain, every april.
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WipeOutPro⭐ Expert4d
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vinyl plank deductions are endless if you track right.
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ColorWheelCarl⭐ Expert3d
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screw the deductions limits, push the envelope.
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PipeDreamer11🏆 Master3d
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pe rollups dodging taxes while we pay full freight.
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ClogBuster⭐ Expert3d
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pissed off after my last filing, too much gone.
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WireWhisperer2⭐ Expert2d
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yeah, commiserate.
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CircuitSavage👑 Legend2d
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totally get it.
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GreenThumbFail⭐ Expert2d
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finally got my refund, first time in years.
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DrainDevil3⭐ Expert2d
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commiserate with you brother.
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TrimTim⭐ Expert1d
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asking, anyone use freshbooks for flooring specifics?
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RustyNails3⭐ Expert1d
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taxes are the real gouge in profits.
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DeckDoctor👑 Legend1d
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lmao, my accountant said im basically self employed poverty.