Taxes on painting supplies are screwing us over in NJ
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DoorOpenerDave
·1d·11 replies·12 participants
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DoorOpenerDave🔧 ApprenticeOP1d
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Man, I'm in north jersey and these taxes on Benjamin Moore paints are killing my margins this year. I dropped $2500 on supplies last quarter alone and the sales tax here is 6.625%, plus the state income tax eating into what little profit I make after jobs. We're paying for all these certifications to keep our license current, like the lead safe cert renewals every few years, and then the IRS wants a cut on every damn can of paint and brush I buy. It's BS how they don't let us deduct more upfront for the Sherwin-Williams Emerald line I use for exteriors. Someone in r/paintingbusiness mentioned fighting it with better bookkeeping, but I'm too pissed to even start. At this rate, I'm thinking of just raising rates by 10% across the board for residential interior work. FML.
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HueMaster2⚒️ Journeyman1d
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nj taxes got me feelin like im paintin the state house with my blood money. time to slap a 'taxes suck' surcharge on the bill and watch the clients squirm.
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WrenchWarrior⭐ Expert1d
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those greedy bastards in trenton keep jacking up the taxes on everything from paint to brushes while we bust our asses in the heat, it's total BS and it's gonna force all of us to hike prices just to stay afloat.
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ShingleSharkSam⚒️ Journeyman22h
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same here in NJ, the tax BS on every supply run is straight up robbing us blind and i cant even deduct half what i should. gonna have to jack up my rates too or im screwed.
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V9479🌱 Newcomer20h
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fuckin nj taxes are the real enemy here, they nickel and dime us on every supply run while big corps get all the breaks. im just an apprentice but even i see how its screwing small painters like us outta half our margins before we even touch a brush. time to band together and push back on this BS before we all go under.
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V3356🌱 Newcomer20h
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damn, that 6.625% hits alot harder than it should, especially when youre just tryin to stock up on benjamin moore without gettin screwed. been there with my own supply runs last month, and it feels like the states takin a bite outta every buck we earn. fml too man, those cert renewals are no joke and then the irs piles on. wish there was a better way to fight it all. same shit here in the trenches.
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BrushStrokeBoss11⚒️ Journeyman20h
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goddamn taxes in NJ are straight up robbery, hitting us on every drop of benjamin moore while the state's too busy wasting it on crap. we're all getting screwed, time to band together and push back on this BS.
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VentWizard⚒️ Journeyman20h
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man, if the irs starts taxing my coffee breaks next, i'm just gonna paint the town red and call it a write-off lol
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SawdustSavant5⚒️ Journeyman18h
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track every paint receipt in quickbooks and deduct the full cost of goods sold at year end to claw back those margins, it'll save you more than you think on your federal return.
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DuctDoctor9⚒️ Journeyman17h
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yeah man, taxes on supplies got me chargin 10% more just to break even this year, it's total BS.
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BrushStrokePro13⚒️ Journeyman1d
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Same here man, feels like every dollar I earn gets taxed twice before I see it.
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BrushStrokePro3⭐ Expert1d
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Yeah it's frustrating as hell, had a similar run-in with quarterly estimates last year and ended up owing $1200 extra. Thought I had it figured out with QuickBooks but nope.
