Posted by Geo-TH,In on November 06, 2019 at 04:25:10 from (50.102.12.66):
In Reply to: Ford Delays posted by David g on November 05, 2019 at 17:27:05:
David, I'm no CPA. I have seen businesses lease instead of buying. Claim they can write off lease where new truck has to spread out over X years.
Aren't some farmers leasing tractors?
My CPA thinks it best for me to deduct mileage.
When I was working, retired 15 years ago, I would have my CPA calculate how much I could invest in IRA to get max tax advantage. That may not be best for everyone. It feels good to have my investments to pay for my Kubota and XT5. Investing money is better than having gold and silver coins in a safety deposit box. Or have money in bank saving account.
Put your money to work. Maximize your deductions. You may want to retire someday. Come up with a plan that works best for you. geo
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Today's Featured Article - A Cautionary Tale - by Ian Minshull. In the early 1950s my father bought an Allis Chalmers B and I used it for all the row crop work with the mangolds and potatoes, rolling and the haymaking on our farm. The farm and the Allis were sold and I have spent a lifetime working on farms throughout the country. I promised myself that one day I would own an Allis. That time event
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