Taxes are killing my painting business after that cabinet job - anyone else?
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BrushStrokeBoss
·1mo·30 replies·28 participants
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BrushStrokeBoss⭐ ExpertOP1mo
145
Man, I just wrapped up this kitchen cabinet repaint using Benjamin Moore Advance, took me three full days of sanding and spraying with my Graco HVLP, and the client was thrilled. But now tax time is here, and I'm staring at my Schedule C trying to figure out deductions for all the paint, rollers, and even the drop cloths I buy from Home Depot every job. I've been painting interiors in the greater Atlanta area for 15 years, and the self-employment tax always hits like a ton of bricks, especially when you're solo and every dollar counts. Saw a thread on r/paintingbusiness where guys were venting about the same thing, and someone mentioned the Facebook group Painting Contractors had tips on quarterly estimates. Watched that Idaho Painter video on cabinet renos, and it got me thinking how to track material costs better for write-offs, but damn, it's frustrating when half your profit vanishes to Uncle Sam. Anyone got a good CPA recommendation or ways to minimize the hit without screwing myself?
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DirtBagLandscaper⚒️ Journeyman1mo
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self-employment tax is a total ball and chain on my landscaping gigs, man, been eating into profits for years and it sucks every damn time.
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FaucetFiend⚒️ Journeyman1mo
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Same shit here, brother, taxes on painting supplies feel like robbery every year.
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TarheelTiler5⚒️ Journeyman1mo
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Hit $180k last year after a big exterior job, but after taxes I barely felt it.
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BugHunterPro2⚒️ Journeyman1mo
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Track every receipt in QuickBooks, deducts the Sherwin-Williams runs no problem.
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BreakerBreaker⚒️ Journeyman1mo
28
Use mileage tracking apps for those drives to job sites, saved me thousands on vehicle deductions.
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NotAnElectrician29⚒️ Journeyman1mo
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Set aside 30% of every check for taxes, no surprises come April.
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TrimQueen⚒️ Journeyman1mo
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Felt that, especially after long jobs like cabinet sprays that eat up supplies.
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SpotlessSteve11⚒️ Journeyman1mo
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Yeah, the self-employment part sucks, but hey, at least we're our own bosses painting what we love.
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GeneralGuru⚒️ Journeyman1mo
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SharkBite for plumbing, but for taxes? Hire a CPA who knows trades, worth every penny.
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LockoutLou⚒️ Journeyman1mo
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Taxes got me pissed after my last trim work, same boat man.
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BasinBoss🔧 Apprentice1mo
27
Every painter I know gripes about this, especially with rising paint costs.
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BugBusterBill⚒️ Journeyman1mo
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The IRS hates small biz like us, painting gigs or not.
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RodentRidder⭐ Expert1mo
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Insurance companies and taxes, both screwing contractors over lately.
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SawdustSavant⭐ Expert1mo
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Dude, join the club, my booth rental deductions barely cover it.
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AmpedUpAndy2⚒️ Journeyman1mo
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Taxes are the real villain, not the flaky clients.
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DirtDiggerDan3⚒️ Journeyman1mo
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Switch to quickbooks online for tracking expenses like that cabinet paint and materials, it'll shave 10-15% off your tax hit if you categorize right.
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NotAnElectrician24⚒️ Journeyman1mo
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Screw the flat deductions, itemize everything from brushes to ladders.
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WoodWorkerWiz⚒️ Journeyman1mo
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Pushed through a 20% raise on my rates this year, finally offset the tax bite.
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PaintSplat2⚒️ Journeyman1mo
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PE firms buying up painting companies just to jack up prices, taxes on top? Rage.
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DirtBagDan⭐ Expert1mo
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Homeowners nickel and diming us while taxes take the rest, bullshit.
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FrostFighter⚒️ Journeyman1mo
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This crap is why I almost quit after my last cabinet reno.
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BoltBrain⚒️ Journeyman1mo
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same shit here, taxes eating half my benjamin moore jobs before i even cash the check. homeowners haggling over every brush stroke just piles on the crap.
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TrackTech⚒️ Journeyman1mo
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Use apps like MileIQ for auto-tracking, deducts drives to Sherwin stores easy.
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PestPatrolPete⚒️ Journeyman1mo
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Customer called at midnight about paint drips, but taxes keep me up more.
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BreezeBoss⚒️ Journeyman1mo
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Switch to S-corp if you're over 100k, cuts self-employment tax big time.
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KeyKeeperKarl⚒️ Journeyman1mo
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Man, that Idaho Painter vid on cabinets was gold, but taxes? Nightmare fuel.
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GreenThumbGus⚒️ Journeyman1mo
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Every year it's the same tax headache for us painters, hang in there.
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FaucetFiend⚒️ Journeyman1mo
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File extensions if you need time, better than penalties on late cabinet job income.
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TarheelTiler5⚒️ Journeyman1mo
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Taxes suck, but deducting that Graco sprayer helped a bit.
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BugHunterPro2⚒️ Journeyman1mo
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The whole system's rigged against solo painters like us.