Posted by JMS/.MN on February 08, 2014 at 09:20:27 from (209.237.125.241):
In Reply to: tax question-tires posted by Dave from mn on February 08, 2014 at 09:05:18:
I would typically expense small tires in the year of purchase, under machinery expense, but large rears can be depreciated over multiple years due to the high dollar value. This year I took section 179 on a set of 20.8x38, along with other purchases that have the depreciation option. Next year section 179 is being drastically reduced. That"s why I do a tax planning session with the CPA in early December. It tells me what needs to be done by Dec 31.
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