USA | ricefarmer14 - 12/24/2024 18:05
Hey Coup, I’ve read enough of your posts to know you run some older equipment (a nice stuff that gets job done) as do I…talking to accountant my depreciation is running out but so is my equipment debt.
I’ve really enjoyed paying little in taxes over the years and it’s nice to have close to no equipment debt but how should one handle this situation? Don’t really want to buy more to just get more depreciation…
Pay the income tax and generate cash to eliminate the need to borrow money to operate. Get a Fidelity money market checking account and let you cash work for you . Was over 5% @ one time, currently 4.25% . Only way that I know to get out of debt is pay income tax. 6-7 figure income tax checks are nothing to be afraid of. |
Balance Sheet-What's the point?
