Handyman Business Quick Start Guide by A. William Benitez

Author:A. William Benitez
Language: eng
Format: epub
Tags: home repair, handyman, profitable business, profits from a home based business, handyman books
Publisher: Positive Imaging, LLC

Work Vehicle

To handle home repair jobs you will need a work vehicle and the maintenance and fuel required to operate the vehicle. The actual cost of the vehicle is covered as depreciation just like the rest of your equipment. Let's assume that your vehicle cost $18,000.00 and you expect it to last for five years. Since automobiles have a resale value after depreciation, let’s assume that at the end of five years your work vehicle will be worth $3,000.00. This leaves $15,000.00 that can be depreciated over a five-year period. Divide the $15,000.00 by 60 months and then divide that sum by 160 hours. This adds a total of $1.56 per hour.

NOTE: You may be able to depreciate the full amount in the first year based on existing tax code but even if you do, it is still important to add this figure and deposit the funds because sooner or later you will need to replace the vehicle. Having the funds available will preclude the need to find financing for another vehicle.

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