Any repair you do is self employment.
Hire some one to change your oil, (illustration) Cost you $50 of after tax income so you need to earn $66.
No taxes paid on your repairs improvements you do your self. A good way to get ahead financially.
and I would add, while you are changing the oil your self you are not spending money at the bar or golf course. Actually that is where the big bucks are gotten.
So total earned per hour is close to $100.
Great post! However, I am sure some revenue agent at some level of government will read it and figure a way to tax the value of your labor services.
Some years ago the IRS or some other tax agency wanted every homeowner to pay a tax on the imputed rental income of their home. The proposal did not go very far. Here is how it works, first determine how much income you receive if you rented out your home, then include that imputed rental income as part of your taxable income!
I've done that for years. My Harley Fat Bob had a fuel pump failure. The shop estimate was approaching $1,000. I did it myself with parts purchased on Amazon and a special screw set from Harley. About $180 in parts, 3 hours of my time. My dad had a very nice TV that suddenly failed to sync the picture. The shop wanted $200 for a replacement sync board plus labor to install it. I repaired the board with 1 transistor from some ECG replacements. $2.80 to the parts department at work, 1 hour of my time. Good as new.