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| A little known insert into the new farm bill with regard to payment limitations and the Adjusted Gross Income is that Corporations and LLC's cannot utilize the sec 179 deductions retroactively for the previous 3 years, affectively raising their net income by the depreciated amount. Took depreciation on a new combine and tractor??? That amount is added back to your balance sheet. Be aware when signing AGI's the IRS is watching you. | |
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Any word on sec 179?
