The Green Industry's Resource Center

DannyLot · #1 10-24-2012, 07:49 PM

Anybody know if its possible or if anyone does it... Writing off tools you bought on Craigslist or used from some in cash ?

cgaengineer · #2 10-24-2012, 07:53 PM

New or used, it's a company purchase.
Posted via Mobile Device

DannyLot · #3 10-24-2012, 07:59 PM

Quote:

Originally Posted by cgaengineer

New or used, it's a company purchase.
Posted via Mobile Device

But if you pay cash let's say for a used mower for 2 grand off Craigslist how do I prove it if I get audited ??

grandview (2006) · #4 10-24-2012, 08:03 PM

Quote:

Originally Posted by DannyLot

But if you pay cash let's say for a used mower for 2 grand off Craigslist how do I prove it if I get audited ??

Make up your own ,just don't go crazy with it.

RussellB · #5 10-24-2012, 08:04 PM

Quote:

Originally Posted by DannyLot

But if you pay cash let's say for a used mower for 2 grand off Craigslist how do I prove it if I get audited ??

Bill of sale. You can get it motorized at a bank for free.

grandview (2006) · #6 10-24-2012, 08:05 PM

Quote:

Originally Posted by RussellB

Bill of sale. You can get it motorized at a bank for free.

I prefer walking.

Landscape Poet · #7 10-24-2012, 08:01 PM

Quote:

Originally Posted by cgaengineer

New or used, it's a company purchase.
Posted via Mobile Device

This is correct. I would advise having a receipt though just in case even though it is cash to prove amount of purchase for deduction.

DannyLot · #8 10-24-2012, 08:05 PM

Quote:

Originally Posted by Landscape Poet

This is correct. I would advise having a receipt though just in case even though it is cash to prove amount of purchase for deduction.

I agree but your stand Joe Shmoe landscape guy prob isn't gonna wanna give me a receipt or really care ? Any other options ? Just tryn to keep track an right off as much as I can an take advantage of it you know

RussellB · #9 10-24-2012, 08:44 PM

Quote:

Originally Posted by DannyLot

I agree but your stand Joe Shmoe landscape guy prob isn't gonna wanna give me a receipt or really care ? Any other options ? Just tryn to keep track an right off as much as I can an take advantage of it you know

If he won't give you a bill of sale I'd be concerned about the machine being HOT. If so, I wouldn't want it.

Landscape Poet · #10 10-24-2012, 09:42 PM

Quote:

Originally Posted by RussellB

If he won't give you a bill of sale I'd be concerned about the machine being HOT. If so, I wouldn't want it.

That would be a very valid concern. Remember if a pawn shop purchases a stolen piece of equipment, the police can remove that equipment from them without providing income to replace that which was lost from the purchase, if they can do that from a Pawn shop.. they can do it from you. If a deal seems too good to be true especially I would be concerned. With that all said there are deals to be had this time of year on CL because everyone thinks they are going to be the next big LCO and fail because they fail to understand business and how to manage it.