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I purchased jump starter boxes for all of our cars.
My oldest daughter away at college came across another college student at Kroger with a dead battery.
I got this series of texts
Dad
I’m so cool
I just jumped a car
With my thingy
It’s the little victories 😂
The best thing is you taught her how to do it that she was confident to help someone else. That independence is so critical to not need “the guy” for everything. Checking tire pressure and filling them, changing a spare, jumping a car, checking oil, etc.
2019 Kia Soul+, 2015 Mustang GT, 2013 Ford F-150, 2000 Chrysler Sebring convertible
I got a call one nice Summer day from Mrs. j that she had a flat tire. She had just pulled out of the grocery store parking lot and pulled way over onto the shoulder of the road and walked back to the grocery store with both of our sons to call me. This was in the mid 70’s so no cell phones. She was only a couple of miles from where I was working so it was no problem to go help her but to have some fun I told her to let Son #1 change the tire and not bother me. She didn’t think that was funny and said, “he already asked me to let him do it but I’m not going to let an 8 year old do that so stop playing around and get over here”.
When I showed up I said to my Son, “OK, show your Mom how to do it”. I knew he couldn’t break the lug nuts loose but I let him open the trunk, drag out my tripod jack set it up and try. He couldn’t do it so I did that part but he had every sequence of changing a flat tire down pat because he liked to help me when I did stuff on the car.
FWIW, this car had hub caps and he knew how to remove them and remembered to put the lug nuts in the upside down hub cap. When I asked him why he did that his answer was, “so this dirt doesn’t get all over them”. I then asked him what he’d do if there wasn’t any hub cap and he said, “I’d put them in my pocket like you told me to do”. Yep, he knew what to do alright. He just had to get a little stronger.
jmonroe
'18 Legacy Limited with 3.6R (Mrs. j's)
Keep America working!
2017 MB E400 , 2015 MB GLK350, 2014 MB C250
https://www.amazon.com/LEGO-Ultimate-Millennium-Falcon-Building/dp/B075SDMMMV/ref=asc_df_B075SDMMMV/?hvadid=309833764739&hvpos=&hvnetw=g&hvrand=8610056377899700333&hvpone=&hvptwo=&hvqmt=&hvdev=c&hvdvcmdl=&hvlocint=&hvlocphy=9051563&hvtargid=pla-492202548888&psc=1&mcid=1fc4a185059932efb285053de630c885&tag=&ref=&adgrpid=62057315659&hvpone=&hvptwo=&hvadid=309833764739&hvpos=&hvnetw=g&hvrand=8610056377899700333&hvqmt=&hvdev=c&hvdvcmdl=&hvlocint=&hvlocphy=9051563&hvtargid=pla-492202548888
2014 Malibu 2LT, 2015 Cruze 2LT,
No thanks. I think I could flip a house faster than build that thing.
jmonroe
'18 Legacy Limited with 3.6R (Mrs. j's)
2018 430i Gran Coupe
Less than 2 yrs in the car biz and both showing losses. Been a landlord for about 9 yrs now and have always shown a loss. That’s not a registered business but have to claim the income and losses each year. I am working on taxes now and the MB condo comes down to a net $900 loss. For those wondering why I’d do it in that case: it means, out of all utilities, maintenance, taxes, insurance, and mortgage interest, we paid just $900. Renters paid the rest. And, technically, we didn’t even pay $900 because I claimed a little over $1k of travel and use of the van for maintenance purposes.
The car biz is something like a $13k loss. Haven’t settled all those numbers yet. Still have expenses to add. Might be closer to $20k in the end.
'11 GMC Sierra 1500; '98 Alfa 156 2.0TS; '08 Maser QP; '67 Coronet R/T; '13 Fiat 500c; '20 S90 T6; '22 MB Sprinter 2500 4x4 diesel; '97 Suzuki R Wagon; '96 Opel Astra; '11 Mini Cooper S
You’re the perfect candidate for my accounting methods.
jmonroe
'18 Legacy Limited with 3.6R (Mrs. j's)
2011 Hyundai Sonata, 2014 BMW 428i convertible, 2015 Honda CTX700D
But, the key isn't just gain or loss, it's revenue. Do you have a business that is generating revenue? If you bring in $50K/yr, but show a $20K loss, then probably doesn't raise any red flags. But, if you go 3+ year with zero revenue? Big flags.
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'11 GMC Sierra 1500; '98 Alfa 156 2.0TS; '08 Maser QP; '67 Coronet R/T; '13 Fiat 500c; '20 S90 T6; '22 MB Sprinter 2500 4x4 diesel; '97 Suzuki R Wagon; '96 Opel Astra; '11 Mini Cooper S
2020 Acura RDX tech SH-AWD, 2023 Maverick hybrid Lariat luxury package.
Guess it’s good that the cooking studio has made a small profit the last couple of years. I pick up the 2023 returns later this week.
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2015 Subaru Outback 3.6R / 2024 Kia Sportage Hybrid SX Prestige
I never said that but to relieve @stickguy’s concern, if things go south, I don’t charge to make semi-monthly visits to the slammer.
jmonroe
'18 Legacy Limited with 3.6R (Mrs. j's)
2019 Kia Soul+, 2015 Mustang GT, 2013 Ford F-150, 2000 Chrysler Sebring convertible
2013 LX 570 2016 LS 460
Do these commercial preparers like H&R Block offer good value? My taxes are pretty simple these days, mainly just a W2, pensions, social security and minor capital gains (sch. D).
2019 Kia Soul+, 2015 Mustang GT, 2013 Ford F-150, 2000 Chrysler Sebring convertible
2020 Acura RDX tech SH-AWD, 2023 Maverick hybrid Lariat luxury package.
2020 Acura RDX tech SH-AWD, 2023 Maverick hybrid Lariat luxury package.
Last year I got it on the 6th.
Decided to close the account since it was expensive, a pain for the tax preparer and I never got along with my assigned financial advisor.
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2020 Acura RDX tech SH-AWD, 2023 Maverick hybrid Lariat luxury package.
You don't become a thousandaire wasting money!
'21 Dark Blue/Black Audi A7 PHEV (mine); '22 White/Beige BMW X3 (hers); '20 Estoril Blue/Oyster BMW M240xi 'Vert (Ours, read: hers in 'vert weather; mine during Nor'easters...)
got a nice surprise last year to find out HRB was not allowed to charge extra for NY Efiling. and this year, should not have to file for NJ again.
2020 Acura RDX tech SH-AWD, 2023 Maverick hybrid Lariat luxury package.
I assumed @oldfarmer50 is self-employed, so he might need the more expensive software.
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BTW, going into original question (no profit), lack of GAAP profits is not a sole investment disqualifier. There are several other metric and indicators to look at before making determination, whether or not a given Company has a high chance becoming a successful investment, or you're being taken for a ride. Hence we have both Amazon and Virgin Galactic.
EDIT:
I think I just got your statement - you probably meant that an individual person running an unprofitable business is at a disadvantage over companies by these "hobby" provisions, which are designed to prevent somebody to take never ending losses against their primary job income. You can quickly see how that could turn into a giant loophole - running "business" to spend all kinds of money on "business expenses" that are actually personal items. I know people still do that, but it's designed to make it harder on them. Consider that that's for corporations, which are taxed separately from individuals, i.e. even if corporation is unprofitable and pays no taxes, the individual investor in that would still only be able to write off losses on sales of shares, not on company's on-going business and only up to $3000 in extent of gains of that year. That goes into idea of a corporation - device to separate one's wealth from liability in exchange for a double taxation of profits (at the company first then at the owner second).
2018 430i Gran Coupe
2018 430i Gran Coupe
Not easy with my bad back and now the ankle. Getting old is no fun at all - not at all!!!
2024 Genesis G90 Super-Charger
Here’s hoping that you feel better soon.
Mine: 1995 318ti Club Sport-2020 C43-1996 Speed Triple Challenge Cup Replica
Wife's: 2021 Sahara 4xe
Son's: 2018 330i xDrive
2021 VW Arteon SEL 4-motion, 2018 VW Passat SE w/tech, 2016 Audi Q5 Premium Plus w/tech
Hope you’ll feel better day by day.
jmonroe
'18 Legacy Limited with 3.6R (Mrs. j's)
2019 Kia Soul+, 2015 Mustang GT, 2013 Ford F-150, 2000 Chrysler Sebring convertible
I have to use the most expensive version of TurboTax due to investments and RSU grants from work. Not complicated and feels like a money grab, but better than paying an accountant.
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2015 Subaru Outback 3.6R / 2024 Kia Sportage Hybrid SX Prestige
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Maybe that is when I realized the value of "The Guy".
2017 MB E400 , 2015 MB GLK350, 2014 MB C250
From the start, Son #1 decided to use an accountant for the flip biz. So far it’s working out better than he thought. He was afraid to use my accounting methods.
jmonroe
'18 Legacy Limited with 3.6R (Mrs. j's)
One of the best ways to stop that is to have the cars tagged but the best way is to have them towed.
jmonroe
'18 Legacy Limited with 3.6R (Mrs. j's)
They say we should expect rain by the end of the week.
2017 Cadillac ATS Performance Premium 3.6
Where I normally live near Toronto we've only had one snowfall of about 1/2 inch so far this winter. I still prefer being in Florida even though it is in the mid 60s today.....with NO snow!
2017 MB E400 , 2015 MB GLK350, 2014 MB C250
2017 Cadillac ATS Performance Premium 3.6
The last thing we want to hear here in snow country is about how nice it is in Fl. LOL
Acquaintances from Chick Fil A went to their Fl house after Christmas. He's a pickleball fanatic. When we had our cold days he sent a message back.
Luckily we've had little snow. So far. Fingers crossed. We've had many winters like this in my lifetime.
2014 Malibu 2LT, 2015 Cruze 2LT,
Probably the best way would put them far out in the parking lot instead of up real close to the building.
2025 Forester Limited, 2024 Subaru Legacy Sport
I don't know the rules but the chargers were at the end of the parking area not near any building.
The parking lot they were in was full.