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Depreciation Rates

Discussion in 'Business Operations' started by Planter, Jan 18, 2002.

  1. Planter

    Planter LawnSite Member
    from Utah
    Messages: 214

    Anyone have the depreciation rates allowed by the IRS handy? I have a compact tractor and an aerator that I would like to put on my books and have depreciated before I show up at the tax accountant's desk (should save me some time and hopefully money to have it already on the books).

    Thanks in advance,
  2. We use tax software from intuit called turbo tax .my sister in law is a cpa.You could get it at a best buy they should have one for sole propreitor or s corporations and partnerships.
    Then you could print it out for your cpa.
    Just a suggestion hope it helps some
  3. bruces

    bruces LawnSite Senior Member
    Messages: 648

    Probably 5 years, should be 20% the first year.

    As far as saving you money, your accountant will probably have to enter it in his tax software anyway, there are so many variables to depreciation you would probably be better off to ask his advice first anyway.

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