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#1
12-14-2011, 09:22 AM
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Depreciate or Section 179?
Bought a $2700 aerator this year. How to you spread out the depreciation? When I started as a S-Corp years ago my CPA did everything. Now life is easier and I just plug in the numbers. I know I could take it as a Section 179, but this was not the greatest year and I don't need that big deduction. So curious how you spread it out, is it 3, 5 or 7 year property and is it equal deductions each year?
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#2
12-14-2011, 09:41 AM
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You can carry over the unused deductions from year to year. I have about 140k worth of them atm.
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#3
12-14-2011, 09:44 AM
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I would take it all this year. I only carry what is required by law. IMO, spreading it over years just cost time, time is money spent when it could have done years ago. That's just me.
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99 Silverado 4x4 2007 Silverado 2500HD 4x4 2005 Cargo King 7'x16' enclosed Blizzard 860HD 7 1/2 ft Western Plow Toro 7/24 snowblower 2 Toro CCR 2450 snowblowers 48" Allis Chalmers 48" Ferris WB 36" Exmark Viking 21" Toro 21" Poulan Pro 2- Echo PB755H Echo & Ryobi trimmers Echo PAS 265 & attachments Stihl & Poulan chain saws Stihl BP blower Stihl FS-56RC-E Trimmer Billy Goat 16hp HTR Loader Pesticide License BU0426 A Positive Outlook 
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#4
12-15-2011, 07:04 AM
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Quote:
http://www.irs.gov/pub/irs-pdf/p946.pdf
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#5
12-15-2011, 10:39 PM
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As a tax guy I would suggest that unless you need the tax deduction this year, it is best to take over a period of time... 5 year property for that type of equipment is usually a sound decision...
By the sound of it, you really don't want to waste the deduction on this year, since it wasn't a particularily profitable year... These depreciation amounts do add up to benefits as the years go by...
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* Water/air ratio in relation to water flow to/from any plantlife is a Basic Fundamental Concept in understanding seed germination as much as transplanting a 20' Maple tree in 90 degree weather... *
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