2 ms·
But this is not necessarily a good thing. If you don't need a new truck, buying that truck is worse than paying the taxes and getting some profit. The truck wil
by coliveira 9y ago
But this is not necessarily a good thing. If you don't need a new truck, buying that truck is worse than paying the taxes and getting some profit. The truck will be sitting there unused and it cannot be resold for the full price paid.
- dclowd9901 9y agoEspecially when the truck depreciates so much. That's several thousand right there.
- softawre 9y agoYes, two comments up mentioned deprecation. Maybe you're forgetting that you can offset deprecation in your taxes for the next year?
- Malician 9y agoDeduction, not credit. Deductions aren't nothing, but they're just a percentage. Good if you're already going to spend the money, or if it's close. But spending a dollar to save a fraction of one can bite you.
- bluGill 9y agoOnce again, the accounts have already figure this out. Depreciation in terms of taxes does not me the loss of trade in value. I do not understand the tax code, I just know accountants do
- bluGill 9y agoIs it though? a new truck is going to be reliable and under warranty. A farmer cannot afford for his equipment to break. The truck being broke means that he cannot get fuel trailer to the equipment. That means that the tractors spend 2 hours every day driving back and forth to the fuel tanks on the farm to refuel - time that is not spent in the field. The truck being broke for just 2 days can cost the farmer more money than the entire cost of a new truck. (if storm wipes out any crop not harvested)