I think the kicker, and my accountant is looking into it, is, if you buy a used pickup from a private individual, you have to 1099 them and they will have to show it on their tax return as income. Wouldn't that be a kick to the rear if they would have to pay income tax for simply selling a used truck, or any piece of equipment, to a business instead of to an individual? Unintended consequences........
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Today's Featured Article - Restoring a John Deere 2010 Diesel Tractor - by Jim Nielsen. Following seven years working in California's Silicon Valley, my wife, baby son and I moved back to Australia to retire. We bought a small 'farm' of about 50 acres near Bendigo, in the state of Victoria. I soon found that it would be very useful to have a tractor around the place for things such as grading our long drive and brush-hogging the fields. I was also embarking on planting 1000 eucalyptus trees, and hence I would need a ripper, small disk plow, sprayer etc. to get these things accompli
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