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Smart spending is the key, So many expenses you can offset the earnings. You keep it at the level that you don’t have to go for social benefits at the same time you don’t have surplus that it gets taken out. If you pay 6 grand or more, what benefit are you getting out of it. If situation like these days you won’t get anything back or anything extra from the other guy who paid nada. This gig is like minimum wage, and you don’t need to pay $6k. Even the businesses that make over a million offset bulk of profit in business expenses or upgrades, except for the sales tax I don’t think smart business pay lot of taxes. Unless you are W2 where in also you can make certain deductions, we are self proprietory, s corp, etc and can do the maths ourselves. If I am going to pay 6k doing this gig , I would rather upgrade my car or expense it to offset that 6k unless I am planning buy a house or get a loan etc where I would need to show my net. But to each his own.
 

· Premium Member
Joined
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10,831 Posts
Smart spending is the key, So many expenses you can offset the earnings. You keep it at the level that you don't have to go for social benefits at the same time you don't have surplus that it gets taken out. If you pay 6 grand or more, what benefit are you getting out of it. If situation like these days you won't get anything back or anything extra from the other guy who paid nada. This gig is like minimum wage, and you don't need to pay $6k. Even the businesses that make over a million offset bulk of profit in business expenses or upgrades, except for the sales tax I don't think smart business pay lot of taxes. Unless you are W2 where in also you can make certain deductions, we are self proprietory, s corp, etc and can do the maths ourselves. If I am going to pay 6k doing this gig , I would rather upgrade my car or expense it to offset that 6k unless I am planning buy a house or get a loan etc where I would need to show my net. But to each his own.
Your original comment reads: if you're a FHV driver and you have $1k and more in your bank acct you're stupid.

U drive FHV and if you have more than 1k in bank then you are not being smart.
 
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