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Writing off Polaris UTV
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mnag15
Posted 5/17/2017 20:39 (#6022297)
Subject: Writing off Polaris UTV


Considering purchasing a Polaris side by side. Just wondering how people get by writing off vehicles of questionable farm purpose. Looking to get a RZR or a General. Thanks for the input.
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Wheat77
Posted 5/17/2017 20:43 (#6022310 - in reply to #6022297)
Subject: RE: Writing off Polaris UTV


It depends on the percentage of use. Many UTV's are used only for work.

Because you are even asking, it seems you are just buying a rec. vehicle.

That means, no tax write off for you. Just a play toy.

Enjoy....................
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Ernie
Posted 5/17/2017 20:46 (#6022324 - in reply to #6022297)
Subject: RE: Writing off Polaris UTV



North End I-15		Just looked at a Honda 500 Pioneer today.
I'm impressed . Has the Hondamatic and will fit in the back of pickup .
Had I not just bought a Jeep last week I would have bought this cute rig.
Nice deck rack on back , can put a tote/cargo box in it .
Under $10,000.
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gene_champ
Posted 5/17/2017 20:49 (#6022332 - in reply to #6022297)
Subject: RE: Writing off Polaris UTV


NC Iowa		If used in farming business, I see no reason not to put on depreciation like any other equipment. Ranger maybe more so.

Can review what Seinfeld had to say about it.
https://m.youtube.com/watch?v=XEL65gywwHQ

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Sugarcane215
Posted 5/17/2017 21:10 (#6022385 - in reply to #6022297)
Subject: RE: Writing off Polaris UTV


Write it off any way even if yku won't use it on the farm just keep it at the farm.
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Fred
Posted 5/17/2017 21:12 (#6022390 - in reply to #6022297)
Subject: RE: Writing off Polaris UTV


south east SD		I have a Corp and my tax man said put it personal side? I didn't argue with him.
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801486
Posted 5/17/2017 21:27 (#6022421 - in reply to #6022297)
Subject: RE: Writing off Polaris UTV


west central Iowa		I've heard of guys writing off a Harley for checking irrigators.
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Drilldo
Posted 5/17/2017 22:13 (#6022519 - in reply to #6022421)
Subject: RE: Writing off Polaris UTV


Texas		We have four UTV's for the business. Couldn't get by without them. No different than anything else the business needs assuming that is what you use them for.
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tmrand
Posted 5/18/2017 06:35 (#6022721 - in reply to #6022421)
Subject: RE: Writing off Polaris UTV



Southeast Colorado		I take the mileage deduction on my Vulcan. I do use it to pick up small parts at times. Kind of nice on a hot summer day buzzing to town on it.
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swne
Posted 5/17/2017 22:39 (#6022552 - in reply to #6022297)
Subject: RE: Writing off Polaris UTV


Cambridge, southwestern Nebraska		Keep on the farm some of the time. Spray a few weeds with it. Check fields. Write it off.
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Andy578
Posted 5/18/2017 00:24 (#6022619 - in reply to #6022297)
Subject: RE: Writing off Polaris UTV


Ontario		it's not really any different then a truck. sure it's used around the farm but for many it's likely used just as much if not more for personal uses. one nice thing about ATVs and some UTVs is they can drive down fence rows or even right down the rows while crops are short so you can scout out fields or go cut up a tree that's fallen
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oldbones
Posted 5/18/2017 08:20 (#6022889 - in reply to #6022297)
Subject: RE: Writing off Polaris UTV



Floyd County, Iowa
mnag15 - 5/17/2017 20:39

........................................ Just wondering how people get by writing off vehicles of questionable farm purpose....................


By talking to your accountant.
If it's legit, it gets deducted- either completely or a percentage, depending on actual farm use.
If your accountant is truly looking out for you, he/she will not try to screw IRS over, because YOU are the one that is ultimately responsible for any back-tax, interest, penalties, etc. In my little world, life's too short to have a reputation ruined by cheating to get ahead.
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Tazzerblue
Posted 5/18/2017 08:57 (#6022951 - in reply to #6022889)
Subject: As we see lots of politicians pay little or no taxes!! don't worry about a few hundred $


SW MN		XXXXXX
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