I am not a CPA but do understand you pay tax on the money you make above the cost of doing businesses... Is fuel, electricity, insurance a cost of doing businesses... If you use a tractor in your businesses why could you not write the payments off...
I did not dig deeper that's for my CPA to do... There comes a time to enjoy the write off and drive a nice piece of equipment are keep your old and pay the difference in income tax... I am guilty as anyone at keeping my expenses down till I took a few big hits at the end of the year paying income tax because I was to cheap to spend money... I brought a new tractor I save $80 a month in estimated taxes plus the write off at the end of the year. I could do with out it just like I had learned to do with out the income tax I pay.. You can look at it this way you can limit the liability are give it away I am sure its different for everyone but its something to look into...
This post was edited by Hobo,NC at 19:13:22 07/26/14.
We sell tractor parts! We have the parts you need to repair your tractor - the right parts. Our low prices and years of research make us your best choice when you need parts. Shop Online Today. [ About Us ]
Today's Featured Article - The Rescue of a Fordson F - by Anthony West. Introduction I live in the UK and have for many years restored Fordson tractors (in the main model N's). I have also restored and shown model F's, E 27N's, Field Marshall Series 2, David Brown Cropmasters and the old rey Fergeson T 20. At one time I had seven restored examples which were shown and used in ploughing matches. As most restorers, I have a number of war stories I can relate on a range of topics that may help other like minded and interested people. Perhaps my first p
... [Read Article]
Latest Ad:
Sell 1958 Hi-Altitude Massey Fergerson tractor, original condition. three point hitch pto engine, Runs well, photos available upon request
[More Ads]
All Rights Reserved. Reproduction of any part of this website, including design and content, without written permission is strictly prohibited. Trade Marks and Trade Names contained and used in this Website are those of others, and are used in this Website in a descriptive sense to refer to the products of others. Use of this Web site constitutes acceptance of our User Agreement and Privacy Policy
TRADEMARK DISCLAIMER: Tradenames and Trademarks referred to within Yesterday's Tractor Co. products and within the Yesterday's Tractor Co. websites are the property of their respective trademark holders. None of these trademark holders are affiliated with Yesterday's Tractor Co., our products, or our website nor are we sponsored by them. John Deere and its logos are the registered trademarks of the John Deere Corporation. Agco, Agco Allis, White, Massey Ferguson and their logos are the registered trademarks of AGCO Corporation. Case, Case-IH, Farmall, International Harvester, New Holland and their logos are registered trademarks of CNH Global N.V.