Re: Tax Question

Posted by Scott Green on March 04, 2003 at 12:44:15 from (66.133.133.55):

In Reply to: Tax Question posted by JW on March 03, 2003 at 18:40:56:

Not shure about farming , but a business could claim up to $20,000.00 per year , every year , under section 179. One stipulation: You must show a proffit . Here's an example; I buy a $50,000 truck. I can claim a $20,000 deduction the year I buy the truck. Then depreciate the other $30,000. You can do this every year. As I said , in order to take advantage of this , you must show a proffit.

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