It’s Official
President Obama signed the Tax Extenders Bill yesterday and now farmers can go out and buy as much equipment as they want before year-end to take full advantage of Section 179 for 2014. I have a feeling there may be a fair amount of “phantom” equipment bought between now and the end of the year.
I know we will be writing about this more next year since Section 179 at the $500k level is only good for 2014, but I promise this is the last post of 2014 on this subject. Merry Christmas to everyone.
Paul Neiffer is a certified public accountant and business advisor specializing in income taxation, accounting services, and succession planning for farmers and agribusiness processors. Paul is a principal with CliftonLarsonAllen in Walla Walla, Washington, as well as a regular speaker at national conferences and contributor at agweb.com. Raised on a farm in central Washington, he has been immersed in the ag industry his entire life, including the last 30 years professionally. Paul and his wife purchase an 180 acre ranch in 2016 and enjoy keeping it full of animals.
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