Posted by Nathan (SD) on April 04, 2012 at 09:59:02 from (75.102.183.211):
In Reply to: Re: Cash sale posted by Mike (WA) on April 04, 2012 at 09:23:34:
Your reply was what I was thinking about. A deposit or cashed check of any kind is cosidered income to the IRS. It is up to you the taxpayer to prove why it is not taxable. And this would trigger the whole chain you described to: a.) try to prove their was no gain on the baler and b.) open a can of worms that could not be explainable about other transactions.
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Today's Featured Article - A Belt Pulley? Really Doing Something? - by Chris Pratt. Belt Pulleys! Most of us conjure up a picture of a massive thresher with a wide belt lazily arching to a tractor 35 feet away throwing a cloud of dust, straw and grain, and while nostalgic, not too practical a method of using our tractors. While this may have been the bread and butter of the belt work in the past (since this is what made the money on many farms), the smaller tasks may have been and still can be its real claim to fame. The thresher would bring in the harvest (and income) once a y
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