Capital gains

Discussion in 'Business Operations' started by mow4cash, Jan 12, 2018.

  1. mow4cash

    mow4cash LawnSite Member
    Messages: 105

    What do you do with your equipment once it has depreciated or is getting older? Do you junk everything or sell it and pay capital gains?
     
  2. danothemano

    danothemano LawnSite Member
    Messages: 131

    Craigslist
     
  3. hackitdown

    hackitdown LawnSite Silver Member
    Messages: 2,660

    I sell it. The capital gains tax is based on how much you tell the IRS you sold it for. Usually very little value to a mower with 2000 hrs, or a 5 year old trimmer.
     
  4. Mitty87

    Mitty87 LawnSite Bronze Member
    Messages: 1,313

    Does anyone really claim capital gains for something you sell on Craigslist for $100? I have a hard time believing most solo guys would do this. Maybe larger businesses.
     

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