Do you think this would add or detract from a business
I see a lot of contractors around here that seem to spend money on frivolous things for the vehicles they drive. Being that I am a contractor I would probably not hire a contractor that shows up to estimate a job if they are driving something like this. Do you think average homeowners see this and it makes them more or less inclined to hire a contractor with this kind of tricked out vehicle? I suppose what I am really asking is,
Will I get more jobs by jacking up my truck and putting expensive rims and tires on it?
I do get the sometimes you have to spend it and not pay it in taxes, just really curious about the flashy thing.
Replies
Add or Detract From a Business
I would be more concerned if a contractor showed up driving a piece of junk. I would be wondering how good his business is if he can't afford decent work equipment or tools. When I see a contractor using decent tools it says to me that he is serious about his work and is earning enough to afford good equipment. A nice tricked-out ride says business must be pretty good.
Depends on where you are. If you were out in the wild woods of Idaho, it might make a lot of sense. If you are in the big city, I would suspect a pecker deficiency.
A designer who provided me a lot of business was once very upset when I bought a nice cube van, she preferred the old pickup I'd been driving. Her business model was based on modest pricing.
The clients who came directly to me never knew the difference. Entirely personal referral, so they already had an idea of my pricing. The sale was 80% complete when my phone initially rang. Never had a business phone, or advertising on my van.
Depends on where you're looking for work. I've found tools a far better purchase in tax avoidance. They allowed me to make even more money, exactly the way that tax program expected. I've never met anybody in the trades who didn't enjoy expensive tools. I'm mostly retired now, with a collection of tools most drool over. Still a pleasure to use.
Tom
Mostly retired.........?
I'm trying and this winter was getting pretty successful at it . Disconnected the biz line and that weeded out all the spam calls, alumni fundraisers, and clients w/o the cell #. Only took a few weeks to quit glancing at the answering machine to check for the flashing light.
it's given the wife and I a chance to pick up and leave if the spirit moves us. We drove to the NW corner of the country this fall because we could. I only had a few calls and it felt good to respectfully decline.
Don't want those tools to sit idle, so I'll try to fit in a couple nicer jobs this spring for some delightful customers. I used to marvel at the ability to work for the grandchildren of long time clients, but was brought down to reality quickly by going to the funerals of some of the older ones. The most recent one would often remind me that i don't want to be the richest guy in the cemetery.
did see a plumbing company logo on a Hum-V, thought it odd and wondered the impact of that driving up a cust. driveway. Most likely it's done FOR the write off........business related.
"Mostly
"Mostly retired.........?"
Good to see you two doing more for yourselves now. I've been picky about who got my work for well over a decade, a real luxury. The recipients were aware, and appreciative. Wonderful to feel comfortable to turn down work, no matter the economy. Visited my latest client recently, who decided against taking the vessel I created for his wife's ashes to her family mausoleum in France. I made two, one for his ashes, someday. I was looking forward to the trip.
My response to alumni fundraising was to send a letter saying that my bequest was a promise to never give them a dime. They would save far more than they could ever get from me by stopping the flow. It worked. A (fundraising) niece told me that they typically take your real estate assessment as 33% of your net worth. Would appear I'm wealthy. Wrong.
We land-shopped the Pacific NW before settling here. Beautiful, but nowhere we wanted to live. For Thanksgiving we headed to Florida this year, our first visit. No set plan, took us 3 weeks. One was with my Carey buddies, who bought a winter house in the Keys a couple of years ago. Everybody there complained when the temperature dropped below 70º for 2 days in December? Fascinating lifestyle, but not for us. Better to visit.
We plan 2-3 months travel every year. Catching up with old friends, or meeting new ones. Last summer we didn't return to Switzerland, and got complaints. Nice to be conspicuous by our absence. Will correct our error this year. I need to revisit a rammed earth PAHS project near the Pyrenees in France. The owner/builder tried to get me interested in buying his 200 yr old adobe row house, when the new house is completed. A charming village. Photos available if you're interested. The major village event every year is dressing period and shooting arrows at a wooden parot atop a tall pole. The successful archer is mayor, or something, for the next year. Somewhat hazardous for the spectators, most arrows miss the parrot. This has been going on since 1585. That's tradition.
Ah...FineHomebuilding... that 200 yr old adobe house is in surprisingly good shape. PAHS will be far more comfortable. Hope your water is safe next summer. Nasty stuff in Erie.
Apologies to all who have no clue what this was about.
I'd never hire anyone who drove that type rig.
Often pickup used building materials from CL ads. Drive my beat up '63 GMC or 86 S-10 to pick stuff up, often have folks throw in a few extras they were thinking of trying to sell as they view me a as a 'poor' working old guy. Or can talk the price down.
Probably the best complromise is something like Blodgett's or M. Smith's van/truck, simple with company logo on the side.
btw, have never hired anyone anyway, so ya know what that opinion worth.
Who knows?
But at leat this guy enticed you enough to take a photo of his truck and post it (along with his telephone #) on this public forum. That's free advertising; whether it works or not. For all I know, maybe it's your truck. If it is, then kudos to you for thinking of a novel way to spread your shingle.
BTW, this family run company (in VA) has apparently been in business for 16 years. Apparently it's working for them to some degree because most construction contractors don't last more than 10.
youll have those that dont like the flashy fast talker, and youll have the ones that do. i sure can think of better write offs than a hummer...
Like what?
LIke what?
According to my accountant, any tools over $500 are supposed to be recorded as a capital asset and depreciated (verses expensed within a given tax year). I, too, believe quality tools are generally good business investments; but that does not necessarily mean they are the best avenue for minimizing tax liability. For example, I believe a work vehical may qualify for the IRS Section 179 (called 1st year expensing) if you buy this long-term, tangible personal property and use in your business more than 50% of the time; particulary in the first year of ownership.
If a business qualifies for this (which this one might), then it's going to be pretty hard to come up with a better tax "hummer" than that.
well it really depends on your business structure but retirement contributions, maxing out 401k, iras and all other forms of funds is my first choice. after that i probablly opt for land and realestate. although the tax reliefs may not have the same comparable monetary caps they sure do take care of it for me.
keep digging
First choice, huh? How are your business investments in securities a tax write off?
And then you want to throw land and realestate investments in there as next-in-line as your best way to minimize tax liabilities? You may want to get another tax advisor.
And Numbnuts is back!
So not only do you know more than anyone else you ever encounter, you are also the smartest guy you know, you now add accountant to you self proclaimed greatness. What a F'in joke. Do the world a favor and crawl back in the hole you have been in the last month.
"If you run into an a $ $ hole in the morning, you ran into an a $ $ hole. If you run into assholes all day, you're the a $ $ hole."
I don't even engage in conversation with people who drive these. I would NEVER hire a contractor driving one. NEVER.
tarlo
Why would you not even have a conversation with these folks?
Because if they're sitting in the truck, talking out the window, you'd have to crane your neck too much to talk to them.
Rightly or wrongly, I make several assumptions about a person driving this type of vehicle,
#1 They don't care about the money they throw away - which leads me to conclude they won't care about my money either
or
#2 They care more about flash and appearances than they do about function and usefulness - which leads me to question their judgement in making suggestions to me or decisions for me
or
#3 They are making too much - in which case I don't want to be one they are making too much on
In short it would be a negative for me from the very start.
yeah...
Agree with tar and cussn here.
I gotta say that I'm a bit surprised that the reaction is almost entirely negative. Yeah, it turns my stomach, but I'm one of those tree-hugging Obamaites. I would have figured the reaction to be more 50/50.