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Updated almost 6 years ago,
Is buying used equipment for a rehab businesses a tax deduction
Looking at buying a used dump trailer for my rehab business. But I got to thinking about the tax implications. I know I can depreciate a new one with a sales receipt but with a used one what do you show as evidence of a cash purchase in order to depreciate it?
Would I be better from a tax stand point on just buying new?
Thanks in advance