Quote:
Originally Posted by DJ-of-E
I've use to work for an accounting firm that did taxes for these gas station owners. Depending on the franchise, gas station owners actually get reaped of much profit since a lot of them are using LIFO accounting rules to calculate taxes for their business.
It's pretty sad that they make more money off the car washing and vacuum pumps by cost/profit ratio than gasoline...and they make literally pennies when gas prices go up, hence some cost 10 cents per gallon more than others due to rent costs.
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Yeah, business has been shot down lately too. We're pulling in around $500-1000 less each day compared to when I started working here 1.5 yrs ago and that's just In my 7 hr shift. This is despite the increase in gas prices.