Tag Archive: "bonus depreciation"
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The Rich Are Different – They Have to Pay More
The Tax Court released a very interesting and to some degree an entertaining case on Tuesday. Michael D. Brown was considered a super life insurance agent to the Forbes 400. He normally would not handle any life insurance policies with a face value less than $10 million and in many cases, he was the agent […]
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Some Thoughts on Section 179 & Bonus Depreciation
Farmers have gotten accustomed to high levels of Section 179 ($500,000 for the last few years) and at least 50% bonus depreciation since 2008. For 2013 the levels are $500,000 for Section 179 and 50% bonus, however, for 2014, Section 179 is scheduled to drop to about $25,000 and there will be no bonus depreciation. […]
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Yes! You Can Write Off That New Machine Shop (At Least 50%)
We got the following question from a reader: “I built a new farm workshop in 2012, can i take 1/2 of the cost off and depreciate the rest over time? I read something regarding bonus depreciation on workshops and was wondering if this qualifies?” Bonus depreciation was placed into the tax laws as a result […]
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Section 179 / 50% Bonus Depreciation
Due to the passage of the new tax law this week, we have gotten several questions about Section 179 and bonus depreciation. A couple of questions are as follows: “Can you please expand on the extension of section 179? For 2012, will the limits remain at $139,000/$560,000 or do they increase to $500,000/$2mil. For 2013, […]