Astrobo said:
Don't forget about the government wanting their 37% cut of the money you make here.
I agree as a self-employed man, this part sucks. That $4800 a month gross, becomes around $3000 net after income and SE taxes (assuming you are in Texas, where we don't lose even more to a state income tax). Uncle sugar really likes to screw us when we work for ourselves. I would imagine you have $250 or so in fuel costs a month (see below)?
You could at least write off mileage and equipment costs and maintenance costs, I believe. But still, if most Americans tried working for themselves, we would all be up in arms against the tax laws!!!
Other things to consider:
Don't forget the fuel tax refund from Texas Comptroller for fuels not used in a motor vehicle:Also, save all those gas receipts from your mower/blower/weedeater fuel, and file the state of Texas 06-106 form that refunds the state portion of fuel taxes paid at the pump. At minimum, just write mower or blower on the receipt, and save it. Looks like you may want to submit that monthly or quarterly, if you burn sufficient fuel. Either way, you have roughly up to a year to send it in. I think currently we pay 18.4 cents a gallon in state fuel tax. It could add up, depending on how much fuel you burn.
https://comptroller.texas.gov/forms/06-106.pdfLocation and downtime due to traffic:I would recommend trying to find most of your work local to where you live. One buddy that has an arborist business in Austin, won't work in certain parts of town anymore, because it takes too much windshield time to get there. He's paying a 4 man crew to sit in the AC in the traffic, instead of trim trees. In your case, anytime you are not mowing is wasted time, so you would do best to try and schedule multiple jobs close by one another when you can, and try to get all of your work on the Northern side of town if you live North, etc.
Class of '93 - proud Dad of a '22 grad and a '26 student!