bdhsfz6
Elite Member
- Joined
- Apr 11, 2015
- Messages
- 3,070
- Location
- Northeastern Pennsylvania
- Tractor
- Kubota MX5800 HST & L6060 HSTC Formerly L6060 HST B7100 HST, L2550, L3010 HST, L3430 HST
I kept my 7 tractors inside and in good condition so they maintained most (and in some cases all) their original value. As my acreage grew over the years and I assumed more chores & road maintenance, I needed larger tractors. Eventually, it got to the point where I needed to have two around at the same time.My guess is that every time he depreciated it down to zero, he’d get a new one so he could write it off on his taxes. Had a cousin who did that with F350 pickups, every 4-years They depreciated to zero and he would buy a new one. Not sure it wold pass muster with a CPA, but it made sense to him and the Budget Officer, aka wife.
Financially, the cost of all this equipment was a lot less than you might think.