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Author Topic: Should I sell my mill?  (Read 3242 times)

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Offline Raym

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Re: Should I sell my mill?
« Reply #40 on: August 14, 2021, 03:22:15 AM »
You could always sell it to me! I thought I was purchasing a mill this weekend...but the guy sold it before I could get up there...after him putting me off for weeks. Now I've got a storage lot reserved and 100 SYP logs but no mill   :D
I know you are somewhat kidding. But I would not insinuate that it is for sale here without going through the proper channels.....I have not, nor do I want to go to the woodshed....  :D
'14-LT40 super, nyle l200m kiln, vintage case 480E loader.

It's not the fool that askith, it's the fool that agreeith.

Offline Raym

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Re: Should I sell my mill?
« Reply #41 on: October 13, 2021, 07:13:43 AM »
Well after much agonizing, the mill is sold. It came down to 2 questions I kept asking myself.

1. If I had 52,000.00, would I purchase this exact sawmill.....eventually the answer was no.
2. If I had a free day (or no real schedule conflicts) would I prefer to saw or go fishing. Believe it or not, this took some time to answer but my wife (and captain) helped me answer. Lets go fishing.

So....expected 4/2022..... 






The good news is that it is sold to an acquaintance so the possibility of "renting" some mill time does exist.
'14-LT40 super, nyle l200m kiln, vintage case 480E loader.

It's not the fool that askith, it's the fool that agreeith.

Offline Magicman

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Re: Should I sell my mill?
« Reply #42 on: October 13, 2021, 07:40:21 AM »
Your gut will eventually tell you what to do.
So it eventually did with your wife's input and urging.  I respect well thought out decisions so I say; Congratulations!!
Knothole Sawmill, LLC     '98 Wood-Mizer LT40SuperHydraulic   WM Million BF Club Member   WM Pro Sawyer Network

Never allow your "need" to make money to exceed your "desire" to provide quality service.....The Magicman

Offline kevin5055

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Re: Should I sell my mill?
« Reply #43 on: October 13, 2021, 09:35:26 AM »
25% of a sale will go towards taxes.
Can someone expand upon this for me please? I'm not a business owner. Someone else mentioned about capital gains, but wouldn't you only be taxed on the profit from the sale (i.e. sale price minus original price)?  

Offline wayback40

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Re: Should I sell my mill?
« Reply #44 on: October 13, 2021, 10:30:25 AM »
As a business you can depreciate it.  I assume he depreciated it down to $0.  Then the capital gains is the sale price less the depreciated value.
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Offline Southside

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Re: Should I sell my mill?
« Reply #45 on: October 13, 2021, 11:36:14 AM »
Twenty Yoopers in a pontoon boat finshin' for Moby Dick.

smiley_guitarist  smiley_trap_drummer
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