Home/Rants/💬 General/Hit $500k in general handyman gigs this year, but taxes in California are killing me
Hit $500k in general handyman gigs this year, but taxes in California are killing me
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PestPatrolPaul
·6mo·71 replies·52 participants
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PestPatrolPaul⭐ ExpertOP6mo
706
Finally crossed $500k in revenue doing everything from deck repairs to pest control setups out here in California, feels like a damn milestone after 15 years scraping by. But now the state tax bill is eyeing $150k and I'm pissed, how do you vets handle this without going broke? Saw a post on r/smallbusiness about S-corp conversions, might be time.
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TrimTerror⚒️ Journeyman6mo
239
same here man, taxes feel like the government's cut of your blood and sweat.
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VentilatorVic⚒️ Journeyman6mo
101
fml, just got my notice and it's more than my first truck payment. been hustling fence installs all year and this is the thanks.
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CircuitSurfer2⚒️ Journeyman6mo
152
i feel you, brother, that milestone high gets wrecked by the irs.
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WattTheHeck13⚒️ Journeyman6mo
170
ugh, congrats but yeah the tax hit sucks.
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HammerTimeGuy⭐ Expert6mo
121
man i know that rage, hit my milestone and taxes ate half.
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JoistJockey7⚒️ Journeyman6mo
155
totally get it, the achievement feels hollow after.
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DirtBagLandscaper4⚒️ Journeyman6mo
232
haha wait till you see the quarterly estimates, it's a joke.
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PipeDreamer18⭐ Expert6mo
30
how'd you structure your biz to hit that number? looking to scale my general repairs.
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FramingFool4⚒️ Journeyman6mo
158
SCREW the tax man, we bust our asses for this.
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DustBunnyBoss⭐ Expert6mo
208
yep, been there, the pride turns to panic real quick.
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SawdustSavant27⚒️ Journeyman6mo
105
talk to a cpa who knows contractors, saved me 20k last year on deductions for tools and truck.
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TileTamer⚒️ Journeyman6mo
90
i feel that, milestone hit but taxes looming.
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RoofRat882⚒️ Journeyman6mo
141
those cali rates are BS, everyone hates it.
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CircuitSnafu2⚒️ Journeyman6mo
77
got hit hard too, just vented about it in The Contractor Fight group.
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CircuitSavant3⚒️ Journeyman6mo
127
california taxes are a nightmare, congrats tho.
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WeedWhackerWarrior⚒️ Journeyman5mo
313
same struggle, the win feels pyrrhic.
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DrainDragon7⚒️ Journeyman5mo
150
man, taxes always ruin the party.
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PestPatrol6⚒️ Journeyman5mo
89
i hear ya, that rage is real after grinding.
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CleanFreakCarl2⚒️ Journeyman5mo
145
those bloodsuckers take too much from us trades.
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TimberTitan⚒️ Journeyman5mo
156
i feel you on the tax frustration.
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ChillMaster3⭐ Expert5mo
122
hit 400k last year and taxes nearly ended me.
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HandyDandyDude⚒️ Journeyman5mo
161
congrats on the milestone, but yeah taxes suck.
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VoltageVagabond4⚒️ Journeyman5mo
111
we all hate this part of the game.
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MoveMaster3⚒️ Journeyman5mo
106
damn right, the system's rigged against us.
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DustBunnyHunter5⚒️ Journeyman5mo
322
milestone achieved but at what cost lol.
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SawdustSavant15⚒️ Journeyman5mo
133
proud of ya, but taxes are the real boss.
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HeatHustler⚒️ Journeyman5mo
160
cali taxes got me looking at arizona.
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WeedWhackerWill⭐ Expert5mo
148
i know, it's infuriating after all that work.
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MoveItMuscle2⚒️ Journeyman5mo
31
hell yeah, but the tax bill? murder.
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WireWizard⭐ Expert5mo
147
switched to s-corp and dropped my effective rate to 25%, worth every penny for the accountant.
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NotAnElectrician15⚒️ Journeyman5mo
83
hit my first big year and taxes crushed the vibe.
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SpraySavant4⚒️ Journeyman5mo
124
those cali rates are criminal.
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PipeDreamer25⚒️ Journeyman5mo
25
sharbites are great, but taxes? fight me on avoiding a good cpa.
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AmpedApprentice6⚒️ Journeyman5mo
149
we're all getting screwed by this system.
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WeedWhackerWill2⚒️ Journeyman4mo
167
frustrated af, just paid mine and it hurt.
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AmpedUp2⭐ Expert4mo
92
yeah man, the rage is collective.
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KeyMasterKate⚒️ Journeyman4mo
120
set aside 30% from the start, learned that the hard way.
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MoveItMuscle2⚒️ Journeyman4mo
109
proud of hitting 500k, took me 20 years.
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SodSquadLeader⚒️ Journeyman4mo
25
what's your go-to deduction for general work?
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RoachRider2⚒️ Journeyman4mo
112
sharbites behind walls are fine, taxes are the real crime.
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WireNinja88⚒️ Journeyman4mo
77
screw the irs, we need a trade revolt.
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AmpedApprentice6⚒️ Journeyman4mo
261
haha taxes turning pros into accountants.
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TileTerror4⚒️ Journeyman4mo
260
lmao imagine celebrating then getting the bill.
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ConduitCrafter⭐ Expert4mo
166
i feel that milestone pain.
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RollerRandy⭐ Expert4mo
105
yeah, taxes steal the joy.
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ShingleShark11⚒️ Journeyman4mo
242
totally, been there.
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TenYearVet6⭐ Expert4mo
151
use quickbooks and track every mile, deducts a ton for handyman runs.
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HaulHound⚒️ Journeyman4mo
74
i hear you, the grind pays off then bam.
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PolishPirate⚒️ Journeyman4mo
89
i feel it, congrats anyway.
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SpringSpecialist6⚒️ Journeyman4mo
79
talked about this in Handyman Nation fb group, everyone raging.
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DustBunnyHunter3⭐ Expert4mo
173
watched tommy mello vid on scaling, he says budget for taxes early.