Posted by LAA on April 04, 2012 at 08:13:56 from (86.51.147.113):
In Reply to: Re: Cash sale posted by Nathan (SD) on April 04, 2012 at 07:41:21:
It is not an illegal transaction, he did not depreciate the baler, it is just a piece of personal equipment as far as the tax law is concerned. A lot of people, lawyers included, do not know much about tax law, there are far more people who overpay because they are scared of the long arm of the IRS than people who cheat. His son in law is not a tax lawyer, just a regular old ambulance chaser.
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