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Old 08-13-2003, 10:24 PM
BoogieDog BoogieDog is offline
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Location: Palestine, Texas
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Depreciating used equipment

I have a Scag 48" walk-behind and sulky. Has about 225 hours on it and I want to put into service to cut neighbor's grass. How do I depreciate this equipment for business purposes?
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Old 08-13-2003, 11:57 PM
Green in Idaho Green in Idaho is offline
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Carefully.
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Old 08-14-2003, 12:36 PM
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tiedeman tiedeman is offline
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talk to your accountant. I know on average the depreciation of my equipment drops around 20% every year. It's like 17% for the first year, and then 20% there after. This is based on a 5 year depreciation value though.
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Old 08-14-2003, 01:25 PM
Green in Idaho Green in Idaho is offline
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See the IRS Web site @
http://www.irs.gov/businesses/small/...=99638,00.html
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Old 08-14-2003, 02:24 PM
BoogieDog BoogieDog is offline
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tiedeman: But it's nine years old but in very good condition. It would have to be worth around $1500 to $2000, I would think.

I guess I'm going to have to a CPA. Probably will cost more than I will make from any mowing. How ridiculous.
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Old 08-14-2003, 03:37 PM
Green in Idaho Green in Idaho is offline
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Quote:
Originally posted by BoogieDog
I guess I'm going to have to a CPA. Probably will cost more than I will make from any mowing. How ridiculous.
"How ridiculous"??

I want my lawn mowed, fertilized, and well maintained with no damaging insects and nice shrubs etc. But I do not know anything about horticulture.

I guess I'm going to have to have a professional lawn service. Probably will cost me more than a new MTD mower, and they will charge more per hour than I make per hour at my Piggly Wiggly job. How ridiculous!

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If you can READ you can figure it out yourself, given enough time. See my link above. It's just like homeowners can read to learn about lawn care (with enough time) to do-it-themselves too.

Got the TIME?
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