For those not so familiar with farming, this is not any sort of free tax rebate to farmers.....
We can deduct major purchases over time, perhaps 1/20th of the cost each year off our taxes for 20 years. So the deduction is always there.
What the special 179 does is allow one to deduct a much bigger amount the first year.
Then you have far less deductions following years for that item.
If we farmers start playing that game, we need to keep doing so, or we end up a year with good income, and no new or old deductions to keep us from a higher tax bracket.
We get caught between a rock and the IRS..... When they change the rules so drastically.
At times the govt feels letting us accelerate these deductions helps spending and employs more people and more taxes are generated, so they always up these limits in an election year.
We sell tractor parts! We have the parts you need to repair your tractor - the right parts. Our low prices and years of research make us your best choice when you need parts. Shop Online Today. [ About Us ]
Today's Featured Article - Farming Never Left My Blood - by Stan Gordon. I was born in 1947 youngest of ten of a working farm. Our farm was located in Saskatchewan near Saskatoon. We had a mixed farm consisting of grain and dairy all done with old machinery and by hand. My dad had a tractor, a Farmall A which was used mostly to run the thrashing machine, a seed drill and for plowing. I remember locals used to help each other and threshing was done from daylight to after dark, one farm to another until all farms were done.
... [Read Article]
Latest Ad:
For sale Farmall super A tractor is complete and has just been setting for awhile,it was running when pulled out of the barn,shouldn’t take to much to get it going asking 1100.00
[More Ads]
All Rights Reserved. Reproduction of any part of this website, including design and content, without written permission is strictly prohibited. Trade Marks and Trade Names contained and used in this Website are those of others, and are used in this Website in a descriptive sense to refer to the products of others. Use of this Web site constitutes acceptance of our User Agreement and Privacy Policy
TRADEMARK DISCLAIMER: Tradenames and Trademarks referred to within Yesterday's Tractor Co. products and within the Yesterday's Tractor Co. websites are the property of their respective trademark holders. None of these trademark holders are affiliated with Yesterday's Tractor Co., our products, or our website nor are we sponsored by them. John Deere and its logos are the registered trademarks of the John Deere Corporation. Agco, Agco Allis, White, Massey Ferguson and their logos are the registered trademarks of AGCO Corporation. Case, Case-IH, Farmall, International Harvester, New Holland and their logos are registered trademarks of CNH Global N.V.
