Tax time

[Keski]

I am considering getting a B2410 and I will be using the tractor for snow clearing and grass cutting at my business. Just to justify the purchase even more to my wife I was wondering if I can take a full deduction the first year for the tractor?
I currently own a B7100 78 model year. I need a better snow blower and the current snow caster is getting old!!
I'm not asking anyone to be a cpa but just maybe someone out there has an answer as you may have been through the same process recently??
Thanks!
By the way the B7100 I have (I am the original owner) is one of the best purchases I have made for my business. It is still in excellent shape with only 485 hrs.

 

[Rick572]

Keski,
Yes you should be able to deduct the cost of the tractor as a business expense using the 179 provision, or you could expense it out over the next 5 years. I'd recomemend that you check with your tax man before making a decision. But if you qualify, the 179 is the prefered way to go.

Rick

 

[Thomas]

Keski,
Tax time again /w3tcompact/icons/shocked.gifplease don't remind me. /w3tcompact/icons/crazy.gif

Indeed your B7100 has been taken care of thru out the years..are you going to keep it or sell her.

Thomas..NH /w3tcompact/icons/wink.gif

 

[Keski]

I am going to trade her in.
I was going to let my brother know what I am doing.I know he has a tractor for lawn cutting but I don't know the type he has.However he is constantly telling me he had to fix this and that.
It is hard to let go of her. Originally when my father-in law got me to buy the 7100 I was a little skeptical that it could handle the snow. It has done the job. He had me compare all the lawn tractors then he showed me the Kubota. There was no comparison. Like I said it was one of my best purchases in 25 years.

 

[cowboydoc]

Yes you certainly can! I bought a new LX 279 for my office building Keski and deducted it all the first year. You can expense an item up to ~18,000 a year. I bought the 4600 last year as well and expensed it all too for the ranch.

[image]http://www.tractorbynet.com/forumfiles/18-35059-sig2.JPG[image]