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  #1  
Old 01-18-2002, 12:49 AM
Planter Planter is offline
LawnSite Member
 
Join Date: Jan 2002
Location: Utah
Posts: 234
Depreciation Rates

Anyone have the depreciation rates allowed by the IRS handy? I have a compact tractor and an aerator that I would like to put on my books and have depreciated before I show up at the tax accountant's desk (should save me some time and hopefully money to have it already on the books).

Thanks in advance,
Kevin
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  #2  
Old 01-18-2002, 01:11 AM
odin odin is offline
Senior Member
 
Join Date: Jul 2001
Location: PRETTY SOON BETWEEN PALERMO AND AYRSHIRE BUT RIGHT NOW SWEET HOME CHICAGO
Posts: 1,783
We use tax software from intuit called turbo tax .my sister in law is a cpa.You could get it at a best buy they should have one for sole propreitor or s corporations and partnerships.
Then you could print it out for your cpa.
Just a suggestion hope it helps some
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Old 01-18-2002, 09:34 AM
bruces bruces is offline
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Join Date: Jun 2001
Location: Independence, MO
Posts: 648
Re: Depreciation Rates

Quote:
Originally posted by Planter
Anyone have the depreciation rates allowed by the IRS handy? I have a compact tractor and an aerator that I would like to put on my books and have depreciated before I show up at the tax accountant's desk (should save me some time and hopefully money to have it already on the books).

Thanks in advance,
Kevin
Probably 5 years, should be 20% the first year.

As far as saving you money, your accountant will probably have to enter it in his tax software anyway, there are so many variables to depreciation you would probably be better off to ask his advice first anyway.
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