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Originally Posted by dixiechick

Oh... I forgot! Keep you fingers crossed and say a prayer for us. My husband bided on a very large apartment complex job in the Spring. He has been going back and forth with them for months trying to get the job. Monday they asked for a copy of insurance certification, and Wednesday they wanted a W-9 form which is tax id. They must be wanting him to do the job. They are working on the contract now, so hopeful it will be signed and he will get a start date.

i hope he lands the gig kiddo, i'm sure that would be a huse help. i dont want to get into a pissing match with you about bills, lol...i'm trying NOT to think of it

TweetThank, Dave... the nice part about his business is that the overhead is VERY low. He works out of the loft. All of his equipment is in trailers that he takes to the job site. Now, a few years ago one of his trailers got stolen and that cost him major bucks. He does have one piece of major equipment that is a 700 lbs concrete grinder that he uses to polish concrete floors. I think it's paid off now. A major expensive for his jobs is the concrete, and he has seen it jump in price due to oil prices increasing. It's amazing how it effects everything.

There is no doubt that your situation is much bigger than mine. You have a lot more money at stack than we do.

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Originally Posted by dixiechick

Thank, Dave... the nice part about his business is that the overhead is VERY low. He works out of the loft. All of his equipment is in trailers that he takes to the job site. Now, a few years ago one of his trailers got stolen and that cost him major bucks. He does have one piece of major equipment that is a 700 lbs concrete grinder that he uses to polish concrete floors. I think it's paid off now. A major expensive for his jobs is the concrete, and he has seen it jump in price due to oil prices increasing. It's amazing how it effects everything.

There is no doubt that your situation is much bigger than mine. You have a lot more money at stack than we do.

yea and it just keeps getting worse and worse....i got 2 loans pending. one at a bank, i'm doubtful about. and the other with a investor. the investor one might pan out, but who knows...everyone is trying to hold tight to what they got. if we dont a) get the investor to bring 150k to the table or b0 hit the lotto...well then, it's just a matter of time...we'll have to close shop, deal with the state in regards to the students we have and file bk....these days are getting VEEEERY LOOOONG....

TweetMaybe you can answer a question for me. I've taken over my hubby's bookkeeping. I probably should just call his accountant, but he's mom is going to give us some money to get his business through this month. How do list this on his books? I don't want to show it as income because it wasn't, but I figured he'll probably be taxed on it.

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Originally Posted by dixiechick

Maybe you can answer a question for me. I've taken over my hubby's bookkeeping. I probably should just call his accountant, but he's mom is going to give us some money to get his business through this month. How do list this on his books? I don't want to show it as income because it wasn't, but I figured he'll probably be taxed on it.

I dont think he has to be taxed on that. Parents can gift kids a certain amount that is tax free.

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Originally Posted by Dzone

I dont think he has to be taxed on that. Parents can gift kids a certain amount that is tax free.

but he's putting it in the biz...i'd call the accountant...i cant remember how we did that, but it went towards the stock shares/ share holder loan, and it didnt get taxed...i use quickbooks pro and whenever i do something like that i call the accountant and he just tells me over the phone how to set it up

TweetFinally... some GOOD NEWS!! I just got a call from my husband and the apartment complex wants him to invoice them for this first part. This means he's got the job! YEA!!!

Yes, the money is going into the business. I'm using Quicken. That's what I'll end up doing... calling the accountant. He'll tell me what to do. I'm thinking it would be under investor/stockholder. I think she gets to deducted as a loan or investment expense. Also it's good to know that we won't have to pay taxes on it. Which reminds me, we have third quarter taxes to do... dang it.

Yes, Dzone... parents can do a gift to kids up to $10,000 per parent tax free.

Tweeteconomy will be booming, and is starting

but the recent months is a survival of the strongest and fittest, it is taking the smallest and weakest out of the equations

happens in cycle

hell, my studies at mcgill is really helping

Tweetyea...we're a pretty young company...if we come out of this we'll be stronger than death!!

Tweetcongrats on landing the job dixiechick