Posted by g mccool on January 14, 2010 at 09:58:53 from (216.126.124.182):
I put $70,000 worth of tile & grass waterways on a farm that my wife owns in Ohio. One of those goverment programs where the gov pays 90% of the cost. Now my accountant tells me that this is a Capital Expense & needs to be spread over several years deduction. I am telling him NO it is not a Capital Expense & that it should all be taken off on taxes the year it was done. The Gov paid me 70k I paid the contractor 70k. It is a wash. I have farms in Iowa & have installed terraces on similar Gov programs & my accountant has taken the deduction all in one year. I have talked to the ASCS office & they can't give me any rock solid paper work saying YAY or Nay. Where can I look to find paper work clearly stating that it can or can not be deducted all in one year. Help me Please. & Please no comments about go get a differant accountant. Thanks Gerald
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Today's Featured Article - Hydraulics - Cylinder Anatomy - by Curtis von Fange. Let�s make one more addition to our series on hydraulics. I�ve noticed a few questions in the comment section that could pertain to hydraulic cylinders so I thought we could take a short look at this real workhorse of the circuit. Cylinders are the reason for the hydraulic circuit. They take the fluid power delivered from the pump and magically change it into mechanical power. There are many types of cylinders that one might run across on a farm scenario. Each one could take a chapter in
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