Section 179 purchases (new and used machinery, commercial vehicles, pretty much any equipment a farmer would buy) can now be expensed in the year of purchase rather than depreciated over time- limits were in the low 6 digits for several years, but rose to $1,000,000 for 2018 taxes. So you can now just expense everything- BUT I'm not sure how it works if the expensed items cause you to have a loss for the year, so you need to talk to a tax professional experienced in farm returns to see how you should handle it. Note- H & R Block and the other franchise tax prep outfits generally do NOT understand this stuff.
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Today's Featured Article - Self-Starting Tractor - McCormick 10-20 - by Francis J. Robinson. I remember it very clearly even though it was almost 50 years ago and I was only about seven years old. My Dad had purchased a new Ford-Ferguson tractor and basic set of implements when he started farming just about the beginning of W.W.II. It was considered a pretty nice outfit for their 70 acre central Indiana grain and livestock farm. Dad spent several years during the war testing aircraft engines at Allison Engineering in Indianapolis working seven days a week on a twelve hour night sh
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