Posted by dave guest on April 05, 2008 at 18:49:33 from (4.229.117.94):
In Reply to: Tax Time posted by JRT on April 04, 2008 at 21:39:16:
Had same thing with real estate rental property. She is giving you good advice. Audit might take ten years before they leave you alone. Passed up legitimate deductions to keep the peace. What you want is a normal looking return. Ask your tax lady about shifting items from one year to another. That is OK. Or used to be.
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Today's Featured Article - Seeing an Old Friend - by Joe Evans. Dad had a concrete contracting business starting in 1960. One of his first pieces of equipment was a Ferguson TO-35 with a Davis loader. Dad replaced the TO-35 with a MF 202 Workbull, essentially an industrialized Ferguson 35 I am told. Dad bought the 202 new in 1962, and I recall quite clearly going to the dealer with him to sign for it.
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