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Southeast Colorado | Looks to me like it could go either way. If you need less income last year to reduce taxes, expense them. If you're income is already pretty low enough you're not worried about the income tax so much, depreciate them. It'll help out later when hopefully your income goes up.
The year of our wildfire we got to instantly buy 76 new tires. Everything from 30.5x32s, 11.2x38s for pivots, semi truck tires, to 15" trailer tires. That was fun. Had a sizable tire bill that year for sure. | |
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Tire tax question
