Taxes on painting supplies got me rethinking my whole setup
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BrushStrokeBoss
·2mo·122 replies·106 participants
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BrushStrokeBoss⭐ ExpertOP2mo
187
Man, doing taxes as a painter is a nightmare, especially tracking all the Sherwin-Williams paint cans and Graco sprayer parts I buy throughout the year. I use QuickBooks for everything but it still feels like im missing deductions for brushes and drop cloths. Anyone else feel like the IRS is out to get us solo guys? Saw a post on r/paintingbusiness where someone mentioned a CPA who specializes in trades, might be worth it. And in the Painting Contractors Facebook group, half the threads are about this crap. Been doing this 15 years and it never gets easier. FML.
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WrenchWiz3⚒️ Journeyman2mo
58
same here, every April i feel like starting over.
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DuctDoctor2⚒️ Journeyman2mo
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ha, my accountant said painters deduct more than plumbers, lucky you.
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TenYearVet6⭐ Expert2mo
28
lucky? try calculating mileage for ladder runs.
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TileTitan2⚒️ Journeyman2mo
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mileage is the easy part, its the receipts that kill ya.
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SudsAndScrub⚒️ Journeyman2mo
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receipts? i just toss em in a shoebox.
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ConduitCrafter⭐ Expert2mo
29
shoebox method got me audited once, never again.
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ChillMasterHV⭐ Expert2mo
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don't get me started on self-employment tax, its robbery.
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DeckDoctor⭐ Expert2mo
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yep, 15.3% bites hard after a long season.
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GarageGuru2⭐ Expert2mo
42
season? try year-round interior jobs.
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BackflowBuddy⚒️ Journeyman2mo
28
hire a bookkeeper who knows trades, saved my ass.
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BoxHaulerBen2🔧 Apprentice2mo
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which one? need names.
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RoofRat8🔧 Apprentice2mo
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bench.co or something like that.
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TenYearVet3⚒️ Journeyman2mo
45
bench is good for basics, but get a CPA for audits.
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SpotlessSteve⚒️ Journeyman2mo
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yeah, local guy here does painters only.
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PipeLord42021⭐ Expert2mo
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warning: never skip quarterly payments, penalties suck.
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HeatHustler2⚒️ Journeyman2mo
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learned that the hard way, owed 2k extra.
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RollerRogue5⚒️ Journeyman2mo
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PSA: track every paint sample as a deduction.
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MulchMaster⚒️ Journeyman2mo
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samples? more like the whole damn store.
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MoveMuscle⚒️ Journeyman2mo
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my taxes are why i drink.
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WireWizardWill⚒️ Journeyman2mo
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we're all in the same boat, painters and sparks alike.
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BoxHaulerBob⚒️ Journeyman2mo
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boat? more like sinking ship.
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DustBunnyHunter8⚒️ Journeyman2mo
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lol sinking in paint thinner.
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DoorJammer4⚒️ Journeyman2mo
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thinner fumes make taxes bearable.
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BoltBoss2⭐ Expert2mo
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frustrated as hell with form 1099s from suppliers.
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AmpedUp5⚒️ Journeyman2mo
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1099s are the devil.
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TarpTitan4⚒️ Journeyman2mo
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ugh, same, feels like endless paperwork.
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TarpTitan⚒️ Journeyman2mo
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paperwork on top of scraping old paint.
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NailGunNinja13🔧 Apprentice2mo
40
scraping is therapy, taxes are torture.
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ChillMaster9⚒️ Journeyman2mo
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i hear ya, brother, hang in there.
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HueHustler⭐ Expert2mo
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use everlance for mileage, auto tracks it.
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SharkBiteKing⚒️ Journeyman2mo
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everlance is gold for us mobile painters.
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HardwoodHero3⭐ Expert2mo
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tried it, battery drain is real.
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BugBlaster7🔧 Apprentice2mo
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giggle if you want but i deduct my coffee runs to job sites.
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EaveEnforcer⚒️ Journeyman2mo
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solidarity man, taxes unite us all.
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SawdustSavant2⚒️ Journeyman2mo
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damn straight.
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KeyMasterKev4⚒️ Journeyman2mo
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yep, been there every year.
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BrushStrokePro14⚒️ Journeyman2mo
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finally got my cpa to handle it, worth every penny.
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BreakerBreaker⚒️ Journeyman2mo
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proud of that move, changed my life.
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VineyardVanguard⚒️ Journeyman2mo
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whos your cpa? need one.
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BoxHaulerBen3⚒️ Journeyman2mo
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try deducting the graco tips as tools.
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DirtBagLandscaper4⚒️ Journeyman2mo
38
good call, they add up.
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VentMaster2⚒️ Journeyman2mo
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saw a thread on r/smallbusiness about painter deductions, eye opening.
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SawdustSavant11⭐ Expert2mo
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yeah, linked to a list of 20+ items.
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CastIronHater⭐ Expert2mo
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ha, my return was bigger than expected.
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JoltJester3⚒️ Journeyman2mo
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we all suffer together on this.
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KeyMasterKate⚒️ Journeyman2mo
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shut up and take my upvote.
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SharkBiteKing⚒️ Journeyman2mo
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lol classic.
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GutterGoblin🔧 Apprentice2mo
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exactly, group hug for tax season.
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LiftLord⚒️ Journeyman2mo
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benjamin moore rebates help a bit.
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LeakHunter⚒️ Journeyman2mo
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rebates are hit or miss.
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LiftAndShift2⚒️ Journeyman2mo
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move to wyoming, no state tax.
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ShingleShark13⚒️ Journeyman2mo
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wyoming? painters there still pay federal.
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RoachRider2⚒️ Journeyman2mo
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true, but less headache.
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MoveMaster3⚒️ Journeyman2mo
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frustrated with the whole system.
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TenYearVet9⭐ Expert2mo
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chris berry on idaho painter channel has tax tips for painters.
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PanelPusher⚒️ Journeyman2mo
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watched that, solid advice.
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WattTheHeck19⚒️ Journeyman2mo
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we painters get screwed on material costs.
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DeckDoctor⭐ Expert2mo
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screwed hard.
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ShingleShark5⚒️ Journeyman2mo
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insurance companies too.
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VentilatorVic⚒️ Journeyman2mo
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collective rage against the machine.
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MoverManic⚒️ Journeyman2mo
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yep, rant all day.
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SawdustSavant11⭐ Expert2mo
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day? try all year.
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FrameFreak2⚒️ Journeyman2mo
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year round pain.
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TileTerror3⚒️ Journeyman2mo
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use freshbooks instead, easier for supplies.
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JackOfAllTrades3⚒️ Journeyman2mo
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how do you handle 1099 painters?
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FlushMaster500⭐ Expert2mo
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pay em flat, deduct as expense.
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PestPatrol7⚒️ Journeyman2mo
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1099s are a trap sometimes.
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PipeLord42027⚒️ Journeyman2mo
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in painting contractors group they say incorporate.
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PestPatrol5⚒️ Journeyman2mo
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s-corp saves on taxes.
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TileTamer3⚒️ Journeyman2mo
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s-corp changed everything for me.
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PipeDreamer4⚒️ Journeyman2mo
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question: best software for tracking paint inventory?
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FixItFelix8⭐ Expert2mo
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jobber integrates well.
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DrainDragon⚒️ Journeyman2mo
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i feel your pain every quarter.
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SweepStakeSue⚒️ Journeyman2mo
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hang in there, its temporary.
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TarpTitan⚒️ Journeyman2mo
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shut up, mta is bs for small jobs.
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WrenchWanderer2⚒️ Journeyman2mo
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mta? explain.
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TileTerror7⚒️ Journeyman2mo
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mileage thing, yeah bs.
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PipeDreamer22🔧 Apprentice2mo
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we in painting are overtaxed.
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TarPaperTiger⚒️ Journeyman2mo
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overtaxed and underappreciated.
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NotAnElectrician9⭐ Expert2mo
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truth.
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HammerTimePro⭐ Expert1mo
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solidarity from a carpenter.
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ConduitCrafter⭐ Expert1mo
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get a deduction list from irs site.
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SolderSniper⚒️ Journeyman1mo
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irs pub 535 is key.
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BlowerBoss⚒️ Journeyman1mo
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we hate this as much as you.
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DirtDiggerDan2⚒️ Journeyman1mo
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hate is right.
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MulchMan⚒️ Journeyman1mo
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fuming over here.
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MoldMilitant⚒️ Journeyman1mo
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use an app like expensify.
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LevelLou🔧 Apprentice1mo
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expensify scans receipts auto.
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PanelPusher⚒️ Journeyman1mo
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good tip.
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JackOfAllTrades3⚒️ Journeyman1mo
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saw in professional painters fb group same complaints.
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SawdustSavant25⚒️ Journeyman1mo
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fb groups are gold for this.
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VoltageVampire⭐ Expert1mo
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proud i finally balanced my books.
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DustBunnySlayer3⚒️ Journeyman1mo
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how? share secrets.
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WipeOutPro⚒️ Journeyman1mo
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quarterly estimates suck.
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WattTheHeck20⚒️ Journeyman1mo
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mileage app saved me thousands.
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BoltBandit⚒️ Journeyman1mo
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which app?
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DustBunnySlayer2⚒️ Journeyman1mo
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we're all pissed at the system.
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BugBane⚒️ Journeyman1mo
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pissed and plotting.
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CanvasCrusader⭐ Expert1mo
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shut up and deduct your ladders.
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KeyMasterKev4⚒️ Journeyman1mo
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laddors are 100% deductible.
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TermiteTerminator⚒️ Journeyman1mo
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i feel ya on the supply tracking.
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RoofRider2🔧 Apprentice1mo
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group vent session needed.
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BushWhacker2⚒️ Journeyman1mo
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tenyearvet here, switched to s-corp, taxes dropped.