Tax implication clock is ticking for farmers

(Photo from withholding-tax-refund.com)

For tax purposes, farmers are busy this time of year finalizing deals on new equipment due to the ability to write off specific capital purchases. Previsions in the federal tax code, such as Section 179, give farmers the choice to deduct either part or all of new assets placed in service this year.

Here is an article from the Dairy Herd Network on the importance of taking advantage of these tax incentives.