On Dec 2, 2:23*am, DerbyDad03 wrote:
On Dec 1, 7:15*pm, BobR wrote:





On Dec 1, 5:14*pm, Vic Smith wrote:

On Thu, 1 Dec 2011 14:10:54 -0800 (PST), DerbyDad03

wrote:
On Dec 1, 4:35*pm, BobR wrote:
On Dec 1, 1:13*pm, DerbyDad03 wrote:

I pay myself the $35 that I would have paid to someone else for 30
minutes work. *The last time I used the calculator that came to $70
per hour of work. *I never said that was my only income just that I
was making $70 an hour for doing my yard. *What I still haven't
figured out is why the yard crew that used to do my yard took almost
45 minutes to do the job with two people.

As for not making one red cent....A penny saved is a penny earned.- Hide quoted text -

- Show quoted text -

Your total net worth just before cleaning your yard was $X.

Too easy.
Start with $100 net worth.
Credit $35 to expense account for mowing.
Debit net worth account $35.
Net worth now $65.
Decide to spend 30 minutes doing the yard, or pay $35.

What was your total net worth after you spent the 30 minutes cleaning
the yard?

Have a glass of iced tea, then debit $35 in the expense account.
Credit net worth account $35
Mark in transaction memo "Mowing My Own Grass Earnings - non-taxable."
Net worth now $100.

If your net worth did not increase after cleaning your yard, you
didn't earn one red cent.

If your net worth did indeed increased by $35 after cleaning the yard,
please tell us where the money came from. There has to be a debit
someplace to offset the credit, unless you printed the money yourself.

Most peoples don't mess with the accounting.
They just know they got $35 richer and 1/2 hour poorer by doing the
job themselves.
And the $35 is real in the pocket money.

--Vic

When you consider that the grass is mowed and trimmed about 30+ times
per year that $35 becomes $1050 of real pocket money.

Right...the same pocket money you had before you mowed the lawn.

Let's say I live off the land and have $0 dollars to my name. If I
cleaned up around my cabin 30+ times per year, would I have $1050 of
real pocket money to spend come Christmas time? No, I wouldn't because
you don't *earn* money when you do something yourself, you *save*
money.

There a big difference between not spending money and earning it. One
of them increases your net worth, the other one keeps it the same.
I'll let you figure out which one is which.- Hide quoted text -

- Show quoted text -

Not spending is tax efficient.
It's called a subsistence economy BTW,
It may be coming your way soon.
http://en.wikipedia.org/wiki/Subsist...heory_of_wages