1. Missed the live Ask the Expert event?
    Catch up on the conversation with Ken Hutcheson, President of U.S. Lawns in the Franchising forum plus sign up to receive a FREE eBook on how to grow your landscape business.

    Dismiss Notice

equipment depreciation

Discussion in 'Business Operations' started by lsu03, Feb 20, 2008.

  1. lsu03

    lsu03 LawnSite Senior Member
    Messages: 370

    how do you figure this out and is there much depreciation if only a few accounts are mowed?
     
  2. DA Quality Lawn & YS

    DA Quality Lawn & YS LawnSite Fanatic
    Messages: 9,137

    I use TurboTax for for my biz taxes and let it give me options for depreciating equipment. You can do straight line depr. over a set number of years or take all up front 1st year (I believe this is called a Sec 177 or some number like that). Depends on if you need the extra write off in the current year or want some for future years. However, I do not know the long hand rules for depreciation, I let TurboTax help me.
     
  3. newtostone

    newtostone LawnSite Senior Member
    from NY
    Messages: 681

    pretty sure its 5 years on trucks and mowers, 7 years on office equipment.
     
  4. bohiaa

    bohiaa LawnSite Fanatic
    Messages: 5,220

    Play with the numbers....

    If your Ok this year take a small ammount, this leaves a larger sum for later..

    I just got mine back and this is what we did,
     

Share This Page