1. Ask the Expert: Fertilization Strategies for Success: Dec. 12, 2017
    Learn how to do more with less when it comes to your fertilization services. Join the live Ask the Expert event hosted by Koch Turf & Ornamental: Dec. 12, 12-2 p.m. ET in the Fertilizer Application forum .

Section 179 deduction

Discussion in 'Heavy Equipment & Pavement' started by YellowDogSVC, Nov 17, 2012.

  1. ksss

    ksss LawnSite Fanatic
    Messages: 7,162

    Depreciating a piece of equipment in one year but paying on it for multiple years is a receipe for a tax nightmare.
  2. Duekster

    Duekster LawnSite Fanatic
    from DFW, TX
    Messages: 7,961

    I was not aware you could use a straight line and take mileage. I have typically used actual expenses plus depreciation.

    Mileage will definately be more attractive but then you have that recapture aspect if / when you sell.

  3. zabmasonry

    zabmasonry LawnSite Senior Member
    from C. VT
    Messages: 316

    Your accountant likely wants you to personally own the equipment so that it is not an asset that is subject to the companies liabilities. Since you actually own the asset, if anything happens to the business then you retain the value of the asset instead of losing it with the business.

Share This Page