My wife made a couple of these one for my restaurant and one for the porch on the house. Cheap but yet resourceful. Told me she saw it on some Pinterest site. Better than some of the things people buy to decorate a few pieces of firewood, a few lights, some green stuff, some ribbon and the bucket (had them out back, don't know why but I did, she said you could use a wooden box also) Not sure if she is buttering me up to get some of that firewood money but even I think they look nice
Italian, been doing it too long. I would rather cut firewood but that's not going to happen for a few more years.
Very nice. I could imagine. My friend owns a steak house in mahopac NY called the chophouse grille and it's his life. Only 1 day closed and a lot of hours everyday..make the money while you can and try to enjoy it
Hours are many. Business has been good to my family, no longer chasing money. A few more years I will sell everything off. This used to be suburbia for GE workers from Schenectady and now that Walmart Super Center, Lowes and Hess express have moved in within 1/2 mile I get offers every few months having just about 3 acres on the main road. Now the other side of that coin, Capitol gains taxes. "We cry when we are broke and starting out then cry when things are good and we have to pay the Piper"
Good for you and your family...Its ridiculous with that capitol gains taxes. There is always something. .I guess you can sell the property off to the highest bidder
Odd thing is customers in my restaurant are asking if it is for sale. Maybe a great way for someone out there to make a few dollars. My daughter told be that at Walmart they are selling Pointsetas (spelling) stuck in a piece of white birch branch.
Indeed, something like that can help some folks out during Christmas. Make a dollar where you can! Good luck on the business.
Hey Chopy, message me with an address and we'll stop for lunch or dinner on out way to Chatham, in Columbia County later this month. We go via the thruway.
Ralphie, the address is 140 Freemans Bridge Rd. Scotia NY 12302 my phone number is 518-469-1093 I am closed on Sundays as crazy as it sounds.
Thanks and you must be married for a very long time when you can get away with calling the wife ornery. As for making a few bucks here's an idea make a few bring them to someone selling Christmas trees and let them add a few dollars profit this could become a nice home based business. Sorry but my mind works in ways to turn a dollar and having everyone win. It seems big business forgot about people need money to buy their products.
If you've owned this business a long time, you will only see capital gains on the land. The building and equipment / furniture would be fully depreciated, so that gain would be subject to depreciation recapture at ordinary income tax rates. If the income in the year of sale is large enough, alternative minimum tax will kick in and figure your income disallowing normal itemized deductions on the 1040. Also, net investment income tax rules will tack on an additional 2.9% for medicare on capital gains. Where I live, all income ordinary or capital gain is subject to the full 5% state income tax rates. I can't imagine that a larger blue state will be any less punitive. Ask your advisor about an installment sale or about rolling the money from the llc property into a tax deferred section 1031 exchange. You would not walk away with cash, but a source of passive rental property for your retirement cash flow.
Make sure you have health insurance in the year of sale. In a couple years, the penalty will be a 3% tax on your income for not having coverage. Not good in a windfall year.
