Depreciation

Discussion in 'Lawn Mowing' started by jvr, Nov 19, 2004.

  1. jvr

    jvr LawnSite Member
    Posts: 13

    I was told by my dealer this week that the depreciation for equipment was changing in January 05. I haven't checked with my CPA yet, but was wondering has anyone heard this or know any details. It's something we should be aware of if your planning new equipment buys next year.
     
  2. tiedeman

    tiedeman LawnSite Fanatic
    from earth
    Posts: 8,745

    hopefully for the better.
     
  3. cleancutccl

    cleancutccl LawnSite Senior Member
    Posts: 698

    odds are they will be adding a special incentive to buy new equipment. Haven't heard anything yet, I will do go through tax updates in December, because I do tax preparation through the winters.
     
  4. lsylvain

    lsylvain LawnSite Senior Member
    Posts: 777

    I believe what your dealer is talking about is the additional 30% from sept 11. You have to purchase the equipment before 1/1/05 to qualify. Also, many of the bush breaks are not permanent which I expect to become permanent anyway. Even under the old rules you could 179 up to 40k anyway (100k now) so It really doesn't matter unless you buy a ton of new stuff. He is just trying to sucker you in to buying now so he can make the sale.
     

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