02-16-2006, 06:02 PM
| |||
| |||
 Re: Lease bonus and Sec 179 Ray wrote: - quote - > I have a farmer client who received a substantial lease
If by "lease bonus", you mean income reported like rent on> bonus on non-producing property. He would like to use Sec > 179 to reduce the tax on the bonus. He has purchased new > assets in excess of his income from farming, can the income > from the lease bonus be used to increase income in the > calculation of allowable Sec 179? We are in the State of > Texas. schedule e, then it's not earned income and sec 179 won't fly. ChEAr$, Harlan Lunsford, EA n LA << ================================================== ===== > << The foregoing is intended for educational purposes only > << and does NOT constitute legal OR professional advice. > << > << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org. > << Copyright (2006) - All rights reserved. > << ================================================== ===== > |
|
#-1
02-15-2006, 02:56 AM
| |||
| |||
| Lease bonus and Sec 179 I have a farmer client who received a substantial lease bonus on non-producing property. He would like to use Sec 179 to reduce the tax on the bonus. He has purchased new assets in excess of his income from farming, can the income from the lease bonus be used to increase income in the calculation of allowable Sec 179? We are in the State of Texas. << ================================================== ===== > << The foregoing is intended for educational purposes only > << and does NOT constitute legal OR professional advice. > << > << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org. > << Copyright (2006) - All rights reserved. > << ================================================== ===== > |
| Tags |
| 179, bonus, lease, sec |
Similar Threads | ||||
| Thread | Forum | Replies | Last Post | |
| Auto Lease Set Up TonyNTheSky: Is there any effective way to set up and Automobile Lease, have it show on the Car Page since it really is not an asset, or should I just use a... | Microsoft Money | 6 | 11-29-2004 01:41 PM | |
| M04: Car lease Zouf: Trying Money 2004 Trial; want to add a car lease as a liability, associated car as an asset. Seems that only a loan can be associated (very... | Microsoft Money | 2 | 10-28-2003 12:12 PM | |
| Setup an acct for car LEASE or equipment LEASE, not Loans Ned S: Having trouble finding a specific-purpose account for LEASING in Money 2003 deluxe. | Microsoft Money | 1 | 09-05-2003 07:21 PM | |
| Thread Tools | |
| Display Modes | |
| |
Linear Mode
