Taxes: Kubota Review  -- Kubota Tractors Discussion Forum and Review Taxes: Kubota Review -- Kubota Tractors Discussion Forum

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 07-16-1999, 00:00 Post: 6034
Catfish



Join Date: Sep 2003
Location: Rhode Island
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Posts: 15
 Taxes

What rules apply to deducting your tractor or depreciating it on your taxes? Do you have to farm for profit to deduct the tractor? If so, has anyone come up with some interesting agribusiness to deduct a tractor and implements.






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 07-20-1999, 00:00 Post: 6137
Scott



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 Taxes

Try tree farming. Only requires that you have 10 acres with trees. Hey it might work?!?






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 07-27-1999, 00:00 Post: 6363
jay



Join Date: Feb 2002
Location: huletts landing ny
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Posts: 43
 Taxes

Catfish,Watch out for this subject, it hurts like heck to pay back taxes with a penalty. In Illinois you have to raise a crop that goes to market, like hay for example, just mowing 10 acres for example will cut it. Call a tax person in an Agricultural community for details, (they tend to know what you are talking about) Best bet to pay taxes, deprciate later.






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Discussion Boards > Active Subjects > Messages as Posted > Kubota Review Forum

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