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Gerard Gonzalez
  • Stonington, CT
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Claim Power equipment on taxes

Gerard Gonzalez
  • Stonington, CT
Posted

BP,

          Now that tax season is over I was wondering if anyone tried to do something like this, this year. I have three property's where I handle the lawn maintenance. Currently I have a push mower at each property. I bring my weed wacker with me from place to place. I want to buy a riding mower to make mowing more enjoyable and faster. I don't have a vehicle to pull a riding mower as of yet but I am in the market for a new truck. I was wondering if I can claim lawn equipment, truck, and trailer on next years taxes.  If so how would I go about doing it? I'm also looking to do so major yard work to all three property's this year. I would need other tools to complete these projects (Rototiller, edger, chipper, etc). Do I need to start a lawn care company in order to get the most bang for my buck? 

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Dmitriy Fomichenko#1 New Member Introductions Contributor
  • Solo 401k Expert
  • Anaheim Hills, CA
6,327
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17,994
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Dmitriy Fomichenko#1 New Member Introductions Contributor
  • Solo 401k Expert
  • Anaheim Hills, CA
Replied

@Gerard Gonzalez, good question for a CPA. Do you have one? If not you should. Sometimes people say that they are trying to save money by doing taxes themselves. Good CPA will save you more money in taxes than the cost of his services. @Brandon Hall or @Steven Hamilton II should be able to provide you with some guidance. 

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