section 179 is not specific to farmers... subsidy and being allowed to depreciate equipment faster are 2 completely different things. I've never taken a subsidy, EVER. You can check EWG website to see that. However, if I buy a piece of equipment because I have a windfall year, I'd like the option of being able to take that piece off my taxes in the year I bought it, instead of dragging it out over many years, to the point it is no longer in service, yet still being depreciated. There are some things the IRS should have NO control over. They already have too much control as it is. It's akin to a schoolyard bully shaking my pockets out every day, to make sure I remember who is the boss. Anyone who agrees with these policies is also a bully.
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Today's Featured Article - Timing Your Magneto Ignition Tractor - by Chris Pratt. If you have done major engine work or restored your tractor, chances are you removed the magneto and spark plug wires and eventually reached the point where you had to put it all back together and make it run. On our first cosmetic restoration, not having a manual, we carefully marked the wires, taped the magneto in the position it came off, and were careful not to turn the engine over while we had these components off. We thought we could get by with this since the engine ran perfectly and would not need any internal work. After the cleanup and painting was done, we began reassembly and finally came to t
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