Everybody would like to write off their toys as a tax deduction. I say "go for it", since I'm not the one who has to explain to an IRS auditor why his toy is a legitimate tax deduction.
If he is an "independent contractor" and gets a 1099, he has a shot at it. If his pay is reported on a W-2 he would be nuts to even try. He'd have to write it off as an unreimbursed employee expense, and something that big is going to attract attention. As a contractor, he can depreciate it out and it's unlikely to attract the notice of the IRS.
Of course, this advice is worth exactly what you paid for it.
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Today's Featured Article - My Ford Golden Jubilee - by Troy Estes. This article is about my '53 Ford Jubilee and a story that starts with taking the tractor to my brother's Starter/Alternator Rebuilding shop for a wiring fix. The generator was shot as well as all the wiring. I dropped off the tractor expecting a transformation from a 6 volt to a 12 volt system utilizing the original generator housing, and a total rewiring of the whole tractor. The front end center pin bushing was worn also so I ask that they replace it if they had time. Well, that’s wha
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1964 I-H 140 tractor with cultivators and sidedresser. Starts and runs good. Asking 2650. CALL RON AT 502-319-1952
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