Lawn Mower (by WMH [NC]) Sep 29, 2024 11:28 AM
Lawn Mower (by plenty [MO]) Sep 29, 2024 12:03 PM
Lawn Mower (by WMH [NC]) Sep 29, 2024 12:10 PM
Lawn Mower (by zero [IN]) Sep 29, 2024 1:22 PM
Lawn Mower (by Robert J [CA]) Sep 29, 2024 1:47 PM
Lawn Mower (by 6x6 [TN]) Sep 29, 2024 1:50 PM
Lawn Mower (by WMH [NC]) Sep 29, 2024 3:05 PM
Lawn Mower (by 6x6 [TN]) Sep 29, 2024 3:11 PM
Lawn Mower (by Robert,OntarioCanada [ON]) Sep 29, 2024 4:44 PM
Lawn Mower (by Robert,OntarioCanada [ON]) Sep 29, 2024 4:44 PM
Lawn Mower (by Homer [TX]) Sep 29, 2024 9:02 PM
Lawn Mower (by Oreo [WI]) Sep 29, 2024 10:34 PM
Lawn Mower (by BRAD 20,000 [IN]) Sep 29, 2024 11:24 PM
Lawn Mower (by Homer [TX]) Sep 30, 2024 1:34 AM
Lawn Mower (by WMH [NC]) Sep 30, 2024 8:55 AM
Lawn Mower (by Ray-N-Pa [PA]) Sep 30, 2024 1:23 PM
Lawn Mower (by zero [IN]) Sep 30, 2024 5:23 PM
Lawn Mower (by Busy [WI]) Oct 2, 2024 3:17 PM
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Lawn Mower (by WMH [NC]) Posted on: Sep 29, 2024 11:28 AM Message:
This is why I pay a CPA, but it's Sunday.
If we buy a riding lawn mower, does it qualify for a section 179, or a total deduction, or safe harbor <$2500 etc? In other words, how is it expensed? Never bought one before but its time. Yes for rentals.
Looks like the one in question is about $3600 or so. --173.28.xx.xxx |
Lawn Mower (by plenty [MO]) Posted on: Sep 29, 2024 12:03 PM Message:
Isn't this a tool? --172.59.xxx.xx |
Lawn Mower (by WMH [NC]) Posted on: Sep 29, 2024 12:10 PM Message:
I would think so - but never sure when you talk about things like this. And because it is over the basic $2500 Safe Harbor thing, I have questions. --173.28.xx.xxx |
Lawn Mower (by zero [IN]) Posted on: Sep 29, 2024 1:22 PM Message:
Sounds like you need to buy the mower body for $2500 and the wheels for an extra $500.
Ha Ha.
Watching to see how this plays out. --107.147.xx.xx |
Lawn Mower (by Robert J [CA]) Posted on: Sep 29, 2024 1:47 PM Message:
I purchased a used rider mower and sent it to my local gardener repair place, on the corner near to several rentals.
He then issued me a report, this wasn't worth fixing and showed me a slightly used model he pick up last week at an estate sale. (In reality the used mower I purchased from him for $1 adding a "," comma and three zero's. So his wife made the receipt out for $1,000. I withdrew cash from my ATM to show proof of purchase.
His used mower was half the price of a new one. Instead of it being a $5,000 idrive electric, Home Depot has one on sale for $2999. So his price was $1,500. It was used and I already spent $1,000 for a dead one. So my write off would be a total of $2,500. $1,000 instant write off and $2,500 taken over 5 years at $500 per year, or under Section 179, I can expense it as a tool. --45.32.xx.xxx |
Lawn Mower (by 6x6 [TN]) Posted on: Sep 29, 2024 1:50 PM Message:
Wouldn't it go under lawn maintenance expenses? --73.108.xxx.xxx |
Lawn Mower (by WMH [NC]) Posted on: Sep 29, 2024 3:05 PM Message:
6x6, we write that sort of specific maintenance off per property where a lawnmower would be more of a tool usable at any property (unless we actually bought it for one property) so more for the business as a whole. Like a table saw or what have you. --173.28.xx.xxx |
Lawn Mower (by 6x6 [TN]) Posted on: Sep 29, 2024 3:11 PM Message:
Why not divide the cost up per property? --73.108.xxx.xxx |
Lawn Mower (by Robert,OntarioCanada [ON]) Posted on: Sep 29, 2024 4:44 PM Message:
Any small engine with carburetor will have issues if keep gasoline with ethanol longer than three months as water will form where engine will not start or run properly. When introduced over 30 years ago ethanol in gasoline vehicles switched to fuel injection where had no issues with ethanol. --216.110.xxx.xxx |
Lawn Mower (by Robert,OntarioCanada [ON]) Posted on: Sep 29, 2024 4:44 PM Message:
Any small engine with carburetor will have issues if keep gasoline with ethanol longer than three months as water will form where engine will not start or run properly. When introduced over 30 years ago ethanol in gasoline vehicles switched to fuel injection where had no issues with ethanol. --216.110.xxx.xxx |
Lawn Mower (by Homer [TX]) Posted on: Sep 29, 2024 9:02 PM Message:
I am no CPA, but have been paying one for over 20 years. I have bought several mowers over that time period, no issues always taking the full deduction. In fact, my annual tool bill is high, and never any issues deducting. --66.169.xxx.xxx |
Lawn Mower (by Oreo [WI]) Posted on: Sep 29, 2024 10:34 PM Message:
We would divide the cost of any such item used or available for use over all the properties, as 6 x 6 mentioned. --75.11.xx.xx |
Lawn Mower (by BRAD 20,000 [IN]) Posted on: Sep 29, 2024 11:24 PM Message:
Me? Sell all mowers and hire it - FREEDOM!!!
I want cut back on workload. Mowing crews are everywhere and easy to hire.
My time, FREEDOM!!! and hassle factor is worth much more than the $20/hr my guy makes after his equipment wear, replacement, labor to maintain it, fuel, tires, mileage on his truck, trying to work around rain...
A mower is a depreciating asset that needs maintenance/parts/fuel and the investment does not increase the value of my business or my cash flow.
Plus it's a no-brainer business expense to reduce your tax burden.
BRAD
--73.103.xxx.xxx |
Lawn Mower (by Homer [TX]) Posted on: Sep 30, 2024 1:34 AM Message:
Brad, it’s clear, you don’t know the joy of riding a zero turn mower, smelling the freshly cut grass. Super relaxing, better than driving in traffic in a Porsche. --66.169.xxx.xxx |
Lawn Mower (by WMH [NC]) Posted on: Sep 30, 2024 8:55 AM Message:
Pretty sure DH wants one just to say he has one, Brad. --198.54.xxx.xxx |
Lawn Mower (by Ray-N-Pa [PA]) Posted on: Sep 30, 2024 1:23 PM Message:
A mower is for on going maintenance. So it would be like a one time repair. I would think you would need to depreciate it as per IRS publication 527. That said, you are not that far over the limit.
Believe it or not Zero has the right idea.......just the wrong item. The IRS would call you out for tires but the tractor and mower deck could split up the amount paid. Tires are clearly part of the tractor --24.101.xxx.xxx |
Lawn Mower (by zero [IN]) Posted on: Sep 30, 2024 5:23 PM Message:
Hey I was close. --107.147.xx.xx |
Lawn Mower (by Busy [WI]) Posted on: Oct 2, 2024 3:17 PM Message:
If you did a battery powered mower, the batteries could easily be separate from the mower. And those batteries are not cheap. I think I’ve converted my husband to like the battery operated walk behind mowers, string trimmers and chain saws. He still has a gas powered rider for our large yard, but after using my Ego tools, and seeing our daughter use her similar collection of Ryobi tools, he’d probably consider a battery powered rider, if he were buying now. No oil changes, no spark plugs, no gas cans, just haul batteries to the basement for winter, back up to the utility room for spring.
Most of the riders are going to have a set of batteries included, but, at least with the Ego brand, they offer their products all sorts of ways. Seems like a lot of the different brands do this, as one starts to get quite a few batteries and chargers. When I add another tool, I just want the tool.
Another plus of battery operated- so much quieter, which I particularly prefer as often my tenants work second or third shift. --172.59.xx.xx |
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