On 6/30/2013 9:52 AM, Ed Huntress wrote:

So you've found an even better angle -- you expense everything, and
carry the value of your equipment on your books at zero.

Very nice, Tom. That's a better dodge than rapid depreciation. Hats
off to your accountant.



Tell me how to value a machine, legally, for depreciation, a machine
that I have say 5k$ in parts and material and about 320 hours in? What
difference? I'm not dodging taxes at all, unless you say that I turned
a 5k$ pile of materials into 100k$.

What advantages of costing VS. depreciating? Me accountant said I can
only value a machine at what I paid for it, which isn't **** compared to
the value. But, I can't just assign a value and screw around with
taxes. If I *sell* it, that would assign a value, I imagine.

It sure would make the value of the business look good to a bank if I
could assign values! I did have the OEM of some of my brush machines
formally estimate the resale value of these used machines on the current
market in the industry for bank purposes but they are over 20 years old
and fully depreciated. I was AMAZED at those numbers, but I don't have
to pay PPT on them at that level, as I'm assured by my lawyer.

Ed, I've NEVER done anything even remotely clever yet alone shady or
Heaven forbid, illegal.