anonymuse
09-27-2006, 03:36 PM
Tools of the trade is a common exemption
category.
The term used to mean hand tools, but
now it refers more broadly to the things you need
in order to do the job you rely on for support.
Here are some examples of property that could be
considered tools of the trade in various fields:
Art camera, scanner (artist)
Car, truck, or van that is used for more than
just commuting (sales manager, insurance
adjuster, physician, firewood salesperson,
traveling salesperson, real estate salesperson,
mechanic)
Cream separator, dairy cows, animal feed
(farmer)
Drills, saws (carpenter)
Electric motor, lathe (mechanic)
Guitar, acoustic amplifier, coronet, violin and
bow, organ, speaker cabinet (musician)
Hair dye, shampoo, cash register, furniture,
dryer, fan, curler, magazine rack (barber,
beauty parlor operator)
Oven, mixer (baker)
Personal computer, printer (insurance
salesperson, lawyer, accountant)
Photographic lens (photographer)
Power chain saw (firewood salesperson)
Sewing machine (tailor)
Truck (logger, tire retreader, truck driver, farmer, electrician)
The ideas listed above are examples of tools of
the trade. Be sure to review the tools of the trade
exemption rules available to you.
~Thanks to Nolo Ch 7 book
category.
The term used to mean hand tools, but
now it refers more broadly to the things you need
in order to do the job you rely on for support.
Here are some examples of property that could be
considered tools of the trade in various fields:
Art camera, scanner (artist)
Car, truck, or van that is used for more than
just commuting (sales manager, insurance
adjuster, physician, firewood salesperson,
traveling salesperson, real estate salesperson,
mechanic)
Cream separator, dairy cows, animal feed
(farmer)
Drills, saws (carpenter)
Electric motor, lathe (mechanic)
Guitar, acoustic amplifier, coronet, violin and
bow, organ, speaker cabinet (musician)
Hair dye, shampoo, cash register, furniture,
dryer, fan, curler, magazine rack (barber,
beauty parlor operator)
Oven, mixer (baker)
Personal computer, printer (insurance
salesperson, lawyer, accountant)
Photographic lens (photographer)
Power chain saw (firewood salesperson)
Sewing machine (tailor)
Truck (logger, tire retreader, truck driver, farmer, electrician)
The ideas listed above are examples of tools of
the trade. Be sure to review the tools of the trade
exemption rules available to you.
~Thanks to Nolo Ch 7 book