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E.Central MN | One advantageous use of 179 was when they included machinery buildings. Instead of depreciating those buildings out over a very long time such as 25-30 years, we could write off a big chunk now(50%) and depreciate the balance over 7 years. While we think the building will get used over 30 years, we doubt we will be the ones using it for that time span. So it actually makes sense to depreciate it sooner as that more closely matches the expected use period for us rather than some govt projected life of 30 years,etc. For all we know we could be in a nursing home and the new owners could tear it down and replace it with a swimming pool. | |
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179 deduction - email your Congressman/Senator
