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Taxes???
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<blockquote data-quote="Alan" data-source="post: 173497" data-attributes="member: 378"><p>I believe you are wrong about priniciple paid as not being a taxable income, of course it is offset by depreciation. and when sold or traded it has to have a reasonable value set on it for recooped depriciation, JMO. I talking big $ items not a lawnmower or cow.</p><p></p><p>I would not depricated and cow. If I bought a cow or two I would just call it a supply and if I sold it, it would become gross sales. Rather than worry about a five year minimal deduction why not take the deduction all in one year. Now if you bought 100 head in a year I would have to think about it.</p><p></p><p>It's all the same the tax man gets his share.</p><p></p><p>Alan</p></blockquote><p></p>
[QUOTE="Alan, post: 173497, member: 378"] I believe you are wrong about priniciple paid as not being a taxable income, of course it is offset by depreciation. and when sold or traded it has to have a reasonable value set on it for recooped depriciation, JMO. I talking big $ items not a lawnmower or cow. I would not depricated and cow. If I bought a cow or two I would just call it a supply and if I sold it, it would become gross sales. Rather than worry about a five year minimal deduction why not take the deduction all in one year. Now if you bought 100 head in a year I would have to think about it. It's all the same the tax man gets his share. Alan [/QUOTE]
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