thekcirp - 12/24/2024 13:44
You use the 179 deduction in year it was bought, but buy the machinery(or whatever) with payments. If the buyer 179's all the purchase, any principal
in the following years on that particular piece of equipment is taxable until it's paid for. No way around it. Pay for it the year you buy it, 179 it all works
real good.
I have used 179 a lot in the past and bought equipment with borrowed money. Works fine when things are in an uptrend and you use the income tax $ savings to invest in something that provides 10 to 20% ROI in the farm operation that can be a 179 deduction.
Balance Sheet-What's the point?
