Re: O/T Need Your Advice

Posted by Jrry on April 25, 2005 at 06:34:32 from (64.12.117.7):

In Reply to: O/T Need Your Advice posted by Allan in NE on April 23, 2005 at 08:02:41:

Allen, you cannot put the equipment on your depression schedule until you "put in to use". When you do buy the farm and start farming you can then began depreciating the equipment. A hobby farmer can deduct expenses up to his income from farming but cannot take a loss on a hoppy farm. I would not suggust that you falsafy any tax return as that can lead to stiff penalties.
Good luck on the farm purchse.
Regards, Jrry

Follow Ups:

Post a Followup Name: E-Mail: Subject: Comments: Optional Link URL: Link Title: Optional Image URL: Email Notification: If you check this box, email will be sent to you whenever someone replies to this message. Your email address must be entered above to receive notification. This notification will be cancelled automatically after 2 weeks.

TRACTOR PARTS	TRACTOR MANUALS

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 ]