Posted by Fixerupper on April 04, 2012 at 07:08:46 from (199.120.105.202):
In Reply to: Cash sale posted by LAA on April 04, 2012 at 06:01:36:
The baler might make you more money in the long run than you will save in taxes if you are able to deduct it. You say you want it for a backup, so if your main baler breaks and rain is coming, this Deere baler will get the hay up before it gets wet. The Deere baler made you money that you would have lost without it in that circumstance.
I don't know what your tax bracket is, but being able to deduct the baler might not save you all that much money in taxes unless your income is teetering on getting into the next higher bracket and the baler purchase will keep you in a lower bracket.
You don't know how much extra money the baler can conceivably make you, but you can figure out pretty closely how much it can save you in taxes. It's a gray area. I'd just give him the greenbacks and take the baler home without papers. I personally deduct every little nit-picking thing I can and every penny is kept track of in a computer program, and not deducting a larger item is painful, but sometimes it's better in the long run to bypass the deduction. Jim
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