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The Water Cooler
General Discussion
Tax write offs do they amount to anything substantial??
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<blockquote data-quote="mr ed" data-source="post: 3955743" data-attributes="member: 6777"><p>It used to be depreciation was a two edge sword if you took the depreciation down to zero then when you sold the item you had to show the money as income which could put you in a higher tax bracket.</p><p></p><p>That's why you drove past farmer Brown's place and he had 3 combines, 6 tractors, 11 vehicles and other equipment sitting in a field rusting away. He didn't want to show the income by selling them.</p></blockquote><p></p>
[QUOTE="mr ed, post: 3955743, member: 6777"] It used to be depreciation was a two edge sword if you took the depreciation down to zero then when you sold the item you had to show the money as income which could put you in a higher tax bracket. That's why you drove past farmer Brown's place and he had 3 combines, 6 tractors, 11 vehicles and other equipment sitting in a field rusting away. He didn't want to show the income by selling them. [/QUOTE]
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Tax write offs do they amount to anything substantial??
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