For those not so familiar with farming, this is not any sort of free tax rebate to farmers.....
We can deduct major purchases over time, perhaps 1/20th of the cost each year off our taxes for 20 years. So the deduction is always there.
What the special 179 does is allow one to deduct a much bigger amount the first year.
Then you have far less deductions following years for that item.
If we farmers start playing that game, we need to keep doing so, or we end up a year with good income, and no new or old deductions to keep us from a higher tax bracket.
We get caught between a rock and the IRS..... When they change the rules so drastically.
At times the govt feels letting us accelerate these deductions helps spending and employs more people and more taxes are generated, so they always up these limits in an election year.
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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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