Thread: Loans?
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Old 10-23-2012, 06:14 PM
CL&T CL&T is offline
LawnSite Senior Member
Join Date: May 2011
Location: New York
Posts: 493
Originally Posted by grandview (2006) View Post
A little off here but, guys with all this cash just sitting here ,I don't know. At the end of the year when my books are done and any money listed will be taxed ,So either I pay tax on it or keep buying stuff I don't need. So again,you have a boat load of money just sitting there,I don't know how your getting around it. I do ,but what say it.
That was another point I was going to bring up but I figured it would be better if I didn't because it would open another can of worms with some of the financial geniuses here.

You can give it to the government or you can spend it on equipment and it works whether you pay cash or finance. It's either a 179 deduction the year you acquire it or you depreciate it over a number of years. But from what I see I doubt some here even have competant accountants or pay taxes on the cash they pocket.
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