Understanding Section 179 & Farm Equipment Purchases

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By titanoutlet December 28, 2011 17:49

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The preferred choice for farmers of Agricultural Tracks
Tax Preparation

Image by agrilifetoday via Flickr

Are you a little confused about what Section 179 is and how it affects you at tax time?

We don’t blame you. In short, Section 179 helps you repurpose tax dollars to spend those dollars on business related items (like farm equipment). You can spend a certain amount of money on these items and if you owe enough on your taxes, the purchase balances out. Sort of.

Here are some resources on Section 179 to hopefully help you take advantage of these savings for your farm:

1) Section179.org – the most well rounded, best informed site we found on information on Section 179

2) Wikipedia – a little more information and background on Section 179.

3) Some Questions on Section 179 – Farm CPA Today Blog – a blogger specializing in farm tax tells us more about Section 179. This guy runs a great blog and I suggest any farmer interested in running a better business check his stuff out.

Let us know if you have any direct questions on used farm equipment and Section 179 – we’ll try our best to help you!

-Titan Outlet Store Team

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titanoutlet
By titanoutlet December 28, 2011 17:49
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