I am not a CPA but do understand you pay tax on the money you make above the cost of doing businesses... Is fuel, electricity, insurance a cost of doing businesses... If you use a tractor in your businesses why could you not write the payments off...
I did not dig deeper that's for my CPA to do... There comes a time to enjoy the write off and drive a nice piece of equipment are keep your old and pay the difference in income tax... I am guilty as anyone at keeping my expenses down till I took a few big hits at the end of the year paying income tax because I was to cheap to spend money... I brought a new tractor I save $80 a month in estimated taxes plus the write off at the end of the year. I could do with out it just like I had learned to do with out the income tax I pay.. You can look at it this way you can limit the liability are give it away I am sure its different for everyone but its something to look into...
This post was edited by Hobo,NC at 19:13:22 07/26/14.
We sell tractor parts! We have the parts you need to repair your tractor - the right parts. Our low prices and years of research make us your best choice when you need parts. Shop Online Today. [ About Us ]
Today's Featured Article - Usin Your Implements: Bucket Loader - by Curtis Von Fange. Introduction: Dad was raised during the depression years of the thirties. As a kid he worked part time on a farm in Kansas doing many of the manual chores. Some of the more successful farmers of that day had a new time saving device called a tractor. It increased the farm productivity and, in general, made life easier because more work could be done with this 'mechanical beast'. My dad dreamed that some day he would have his own tractor with every implement he could get. When he rea
... [Read Article]
Latest Ad:
2022 John Deere 5045E, 4wd, front end loader and 3rd function with grapple. 120 hrs, 55k new, must sell
[More Ads]
All Rights Reserved. Reproduction of any part of this website, including design and content, without written permission is strictly prohibited. Trade Marks and Trade Names contained and used in this Website are those of others, and are used in this Website in a descriptive sense to refer to the products of others. Use of this Web site constitutes acceptance of our User Agreement and Privacy Policy
TRADEMARK DISCLAIMER: Tradenames and Trademarks referred to within Yesterday's Tractor Co. products and within the Yesterday's Tractor Co. websites are the property of their respective trademark holders. None of these trademark holders are affiliated with Yesterday's Tractor Co., our products, or our website nor are we sponsored by them. John Deere and its logos are the registered trademarks of the John Deere Corporation. Agco, Agco Allis, White, Massey Ferguson and their logos are the registered trademarks of AGCO Corporation. Case, Case-IH, Farmall, International Harvester, New Holland and their logos are registered trademarks of CNH Global N.V.
