Posted by jake collie on April 23, 2013 at 17:15:02 from (54.228.16.142):
I have owned some land for the last ten years that I have let the neighbor farm for free. It needs to be plowed this year after many years of being hay so I told him I was going to farm it myself from now on. I will be putting in corn and expect to make around $3000 this fall when I sell it. I would like to write off my expenses so I can lessen my income but I don't currently have a farm business. Over the years I have amassed a few tractors and some equipment that I wouldn't mind writing off either. If I start a business can I write off what I paid for the tractors and equipment or do I first need to sell them to my business from myself to be able to write them off? If I do need to sell them to my business do I have to claim the money I sell them for as income on my personal taxes? If I do have to claim the income it really doesn't pay to do anything.
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Today's Featured Article - The Nuts and Bolts of Fasteners - Part 2 - by Curtis Von Fange. In our previous article we discussed capscrews, bolts, and nuts along with their relative hardness and thread sizes. In this segment we will finish up on our fasteners and then work with ways to keep them from loosening up in the field. Capscrews, bolts and nuts are not the only means of holding two parts together. When dealing with thinner metals like sheet tin, a long bolt and
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