View Single Post
Old 12-10-2013, 01:49 PM
twomancrew twomancrew is offline
LawnSite Senior Member
Join Date: Jun 2013
Location: East, IA
Posts: 944
I was going to ask my guy this year about depreciating and how I should use it to my advantage. I know it's in the paperwork, but don't know how it works and that is fine for now. The CL stuff and the new equipment receipts I always take to him where everything else I sum up at home. He gives me a worksheet to help us both speed up the process.

2 years back I sold off a used tractor and attachments and learned about the dirty C word. Capital gains ugh. Last year I took a huge pile of old equipment to the scrap yard instead of selling it on CL. It was so much easier to put it down as misc. income. See, I can be taught!

To the OP- it takes time and I learn more and more every time I sit down with a CPA.
Reply With Quote
Page generated in 0.03690 seconds with 8 queries