Depreciating used equipment

Discussion in 'Business Operations' started by BoogieDog, Aug 13, 2003.

  1. BoogieDog

    BoogieDog LawnSite Member
    Posts: 20

    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?
     
  2. Green in Idaho

    Green in Idaho LawnSite Senior Member
    from Idaho
    Posts: 833

    Carefully.
    :D
     
  3. tiedeman

    tiedeman LawnSite Fanatic
    from earth
    Posts: 8,745

    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.
     
  4. Green in Idaho

    Green in Idaho LawnSite Senior Member
    from Idaho
    Posts: 833

  5. BoogieDog

    BoogieDog LawnSite Member
    Posts: 20

    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.
     
  6. Green in Idaho

    Green in Idaho LawnSite Senior Member
    from Idaho
    Posts: 833

    "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!

    ***********************
    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?
     

Share This Page