I failed at Lease Purchase.
Discussion in 'Schneider' started by rickybobby, Apr 25, 2017.
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KillingTime Thanks this.
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pattyj Thanks this.
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The very first thing I learned when I started my co. 20 yrs ago, pay yourself a salary and make sure taxes are payed first.
misterG, Protein Hauler, Mortarmaggot and 3 others Thank this. -
I've been in business for 3 years now and have never paid estimated taxes. You can elect to pay them all at once for a small penalty. My penalty for 2015 was 178 bucks. No penalty this year because I got a refund. The caveat here is you #### well better be disciplined with your money or you'll really put yourself in a jam when it does come time to pay.
Mortarmaggot Thanks this. -
Yes discipline is the key. I pay myself a grand every week. Everything else goes back into business.
FireLotus Thanks this. -
How can you not pay your estimated taxes? Doesn't even make any sense. Plus he has a wife at home to help manage that sort of thing. All my money went into one big pot when I did it. Of course I didn't have any major expenses (cleared out all my debt before I did the l/p) and also don't have a wife at home that's raiding the bank account. But still you know going into it that at least 25-30% of your net gross goes to taxes. Bottom line is if you're irresponsible and don't plan accordingly these sort of things happen.
Last edited: Apr 25, 2017
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Home_on_wheels Thanks this.
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I bet his lease purchase was successful for Schneider.
Dave_in_AZ, Western flyer and AtticusRoad Thank this.
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