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Re: Taxes and Tractors
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Posted by Jo Wisconsin on March 06, 2002 at 09:58:17 from (208.49.32.175):
In Reply to: Taxes and Tractors posted by Alabama on March 06, 2002 at 09:34:32:
Our tax laws allow $25,000 to be deducted . BUT must make money 1 out of 5 years or it WILL trigger an audit . most of my exp. are depreciated meaning 1/2 deducted first year and 1/2 deducted 5 years later . I go to a tax man that only works with the farmers . I suggest to find one in your area . Had a relitive grow a crop , but the IRS sucked him dry , was better off to pay the tax (think it was North D.)
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