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 - Show Coverage: Journey to Ankeny - by Cindy Ladage. We left Illinois on the first day of July and headed north and west for Ankeny, Iowa. Minus two kids, we traveled light with only the youngest in tow. As long as a pool was at the end of our destination she was easy to please unlike the other two who have a multitude of requirements to travel with mom and dad. Amana Colonies served as a respite where we ate a family style lunch that sustained us with more food than could reasonably fit into our ample physiques. The show at Ankeny
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