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TAX BREAK FOR CATTLE
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<blockquote data-quote="Brandonm22" data-source="post: 615931" data-attributes="member: 7645"><p>Who told you that??? IF you use the ATV to check the cows, ride the fences, herd up the cows, refill the mineral feeders, feed, collect eggs, pull calves (as something to jack against NOT moving), yes you can certainly depreciate it like a tractor or a purchased horse (if the horse were used similarly). The danger (like declaring a loss every year or mammoth losses) is that (according to some people) it is a red flag that makes it more likely the IRS will come visit you. It would certainly help if in your records you kept photographic evidence of how the vehicle is used and in a perfect record keeping world you kept a daily log of hours used and for what purpose. Now if the thing is half personal use (riding the roads, racing, hunting trips, camping outings, etc) only deduct the 50% of it that is used for the farm. </p><p></p><p><a href="http://www.agriculture.com/ag/story.jhtml?storyid=/templatedata/ag/story/data/1171399685884.xml" target="_blank">http://www.agriculture.com/ag/story.jht ... 685884.xml</a></p></blockquote><p></p>
[QUOTE="Brandonm22, post: 615931, member: 7645"] Who told you that??? IF you use the ATV to check the cows, ride the fences, herd up the cows, refill the mineral feeders, feed, collect eggs, pull calves (as something to jack against NOT moving), yes you can certainly depreciate it like a tractor or a purchased horse (if the horse were used similarly). The danger (like declaring a loss every year or mammoth losses) is that (according to some people) it is a red flag that makes it more likely the IRS will come visit you. It would certainly help if in your records you kept photographic evidence of how the vehicle is used and in a perfect record keeping world you kept a daily log of hours used and for what purpose. Now if the thing is half personal use (riding the roads, racing, hunting trips, camping outings, etc) only deduct the 50% of it that is used for the farm. [url=http://www.agriculture.com/ag/story.jhtml?storyid=/templatedata/ag/story/data/1171399685884.xml]http://www.agriculture.com/ag/story.jht ... 685884.xml[/url] [/QUOTE]
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TAX BREAK FOR CATTLE
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