Posted by Texasmark1 on December 10, 2016 at 07:58:22 from (99.198.13.55):
In Reply to: My new loader posted by showcrop on December 10, 2016 at 05:00:07:
Buying something just for the sake of the tax deduct is only the difference in percentage of the would be brackets between the two choices. If you are in say the 15% bracket and through profits moved to the 35% (assumed numbers, not actuals but close enough) you would be required to pay 35K-15k = 20k in additional taxes on a $100k additional profit leaving you $80k in your pocket to spend on something you need or to invest.
So, how do you justify buying just for the sake of buying? I never could figure that one out and that's why I am my own "tax expert, consultant, CPA, money manager" or whatever you choose to call it.
However, if you have an item fully depreciated and the maintenance costs are rising, and you are considering a replacement having the amenities to work more productively and make you more profit and pay less tax as a result then.............what are you waiting for?
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