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Beresford, SD | Section 179 is only for those that
A) have a boat load of cash left after paying taxes to make land payments.
B) "prepaid" all expenses for the next year.
C) deferred a fair amount of income from the previous year.
Section 179 is a great tool if the above 3 mentioned have been maximized. Keep your cash on the top side of your balance sheet. Sure 179 will get you out of tax liability but if we are headed where WE all think we are in AG the next few years.......A new combine or tractor that is worth 1/2 its purchase cost in 2 years is NOT going to pull you through.
Now if your 65 years old with all your land free and clear and maximized the 3 rules mentioned above...179 away! Just my thoughts. | |
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who you should talk to about Sec 179
